Egyptian fertilizer company Evergrow is negotiating with Aswan governorate to allocate 500,000 metres square to implement a new plant for phosphate fertilizers in coordination with Industrial Development Authority, said its chairman Mohamed El-Kheshen. He told Amwal Al Ghad on the side lines of Sahara Expo 2019 that the new plant's initial investments accounted for $500 million in cooperation with one of the Belgian companies. He added that his company has completed the technical studies of the new project. The new plant will be with production capacity of one million tonnes producing potassium sulfate and concentrated sulfuric acid 98.5 % and NPK. El-Kheshen further noted that Evergrow will be contributing 55 percent of the total project's investments, while the Belgian partner will provide 45 percent adding that it will take the plant three years to start its operation. On the other hand, the company seeks to increase the volume its exports to 70-75 percent up from 60 percent within the next year.
