Chairman of the Egyptian Black Sand Company Magdy Tawil said the complex of black sand factories are of high economic value and investment attractive.
He made the remarks on Wednesday in a speech on the inauguration of a complex of black sand factories in Kafr El Sheikh in the presence of President Abdel Fattah El Sisi.
He said an integrated feasibility study coded by major international mining companies was prepared for the project which aimed at establishing new industrial complexes.
The project secures foreign currencies, meets growing international demand for exporting the surplus and creates 5,000 direct and indirect jobs, he said.
He noted that the project produces several key economic minerals that are used in several strategic industries.
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