Australian consortium to launch an $875M phosphoric acid production plant
Wesson Group’s Lionsbridge and Westech Group to establish an $875 million phosphoric acid production plant in Safaga, Egypt as part of an Australian consortium, Asharq Bloomberg reported.
The consortium will establish a company named Osiris to implement the project which will be located in the city on the Red Sea coast, with a total annual production capacity of 692K tons.
The plant will be executed in two phases; the first phase will cost $312 million in investments to produce 346,000 tons of phosphoric acid, while the second phase will be implemented with investments of up to $563 million.