Egypt's New Valley Governorate will launch a $1.2 billion phosphate manufacturing complex within three years as part of a broader strategy to boost local value-added mining, Deputy Governor Hanan Magdy said on Tuesday. Speaking during the Egypt Mining Forum in Cairo, Magdy said the project—led by Egyptian joint-stock firms including Misr Phosphate Co.—aims to convert raw phosphate into phosphoric acid for export, ending years of direct raw material exports that deprived the country of higher returns. The plant will be built on a 300-kilometre-high plateau containing one of Egypt's richest high-grade phosphate reserves. Only 10 per cent of the plateau has been tapped so far, Magdy said. "This marks a shift from exporting raw materials to building an integrated local manufacturing base that multiplies economic returns," she noted, confirming contracts with the executing companies have already been signed. Magdy said the project builds on over 120 billion Egyptian pounds ($2.43 billion) in government infrastructure investment in the past decade, including 3,700 kilometres of roads and nearly 300 telecom towers. The governorate also boasts over 4 gigawatts of solar power capacity, ensuring energy sustainability for industrial growth. To facilitate investment, the governorate has opened a branch of Egypt's General Authority for Investment to streamline business procedures and reduce bureaucracy. New Valley, designated Egypt's "Capital of the Arab Environment," enforces strict environmental impact assessments for all mining activities, with a dedicated system to ensure project sustainability, Magdy added. Reporting: Aya Anwar Writing: Y.Yasser Subediting: Y.Yasser
