CAIRO – The Egyptian Petroleum Ministry is working on a program to maximize Egypt’s phosphate resources and increase the value-added, said Tareq el Molla.
Addressing the general assembly of PhosPhate Misr Co. Monday, the petroleum minister said exploration programs should help determine reserves of crude phosphate to be supplied to local industries or exported.
Work is also underway to establish a phosphoric acid production complex in Abu Tartour district of the New Valley, Molla told the meeting, which was held to endorse business results of 2020.
Chairman of PhosPhate Misr Mohamed Abdel Azim told the gathering that his company is the biggest producer and exporter of phosphate in Egypt.
He put the value of sales during 2020 at about 2.4 million tons; i.e. 9.2% rise on 2019.
PhosPhate Misr is also the major supplier to fertilizers plants in Egypt, providing about one million tons of crude phosphate for the production of phosphate fertilizers, Abdel Azim said.
Exports of PhosPhate Misr make up 70% of Egypt’s total annually, he added.