Egypt’s GETZ receives 3 offers to build $1.6bln phosphate fertilizer factories

The General Authority for the Golden Triangle Economic Zone (GTEZ) has received three offers worth $1.6 billion from Egyptian and international investors to build phosphate fertilizers and phosphoric acid factories at the zone in Safaga, GETZ’s Head Adel Said told Asharq Business on July 18th.

The first offer belongs to the Egyptian Financial and Industrial Company (EFIC), and its investment cost is about $600 million, Said added on the sidelines of Egypt mining Forum 2023.

The fertilizer complex is set to be implemented in three phases on a total area of 100 feddans.

The second offer was summited by Egyptian businessman Mahmoud Muharram, who wants to secure 50-feddan plot of land in Egypt's Golden Triangle area to establish a phosphate fertilizer and phosphoric acid factory, with initial investments estimated at $150 million.

The Golden Triangle is situated at Abu Tartour on the outskirts of Qena in Upper Egypt.

An Australian consortium comprised Lionbridge, a subsidiary of Wessen Group Limited, and West Tech, has submitted the third offer for investing $875 million in building a phosphoric acid factory.