President Abdel-Fatah El-Sisi inaugurated on Wednesday the new Phosphatic and Compound Fertilizers Complex in Ain Sokhna in the governorate of Suez, which would be the largest industrial establishment for producing fertilizers in North Africa.
The new complex, which was constructed in 36 months over an area of 400 feddans, includes nine factories, an administrative and a residential city, and an ores' storage complex.
"The establishment of the complex aims to maximize the value of Egyptian phosphate ore by converting it into phosphate fertilizers," Chairman of El-Nasr Company for Intermediate Chemicals (NCIC) Major General Mokhtar Abdel-Latif said during the opening.
Abdel-Latif said the new complex annually processes 500,000 tonnes of raw sulphur as well as two million tonnes of raw phosphate to produce fertilizers.
"The complex achieves self-sufficiency for Egypt in these fertilizers and also enables the government to export the surplus," Chairman of El-Nasr Company for Chemicals said.
In his speech during the inauguration ceremony of the project, El-Sisi said that the project will help Egypt benefit more from its natural resources through turning them into added value.
The president said that the project will help put an end to exporting Egypt's natural resources in the form of raw materials and also an attempt to stop importing.
"The complex moreover helps employ the Egyptian labor force," said El-Sisi, adding that it provides jobs for around 1,500 workers.
"In the quest of achieving its development goals, Egypt," El-Sisi says,"is in need of the hard work of all its loyal sons not only in the governmental sector but also in the private sector".
He said addressing investors: "We will help you, all administrative difficulties and bureaucratic hurdles will be removed while implementing any project, so that the project is carried out in less time".
Prime Minister Mostafa Madbouly, House of Representatives Speaker Ali Abdel-Aal, Defence Minister Mohamed Zaki, a number of ministers and senior state officials attended the inauguration ceremony of the project.
The president said that "the state is moving seriously and responsibly to develop Egypt".
"There is no state that advances through killing, demolition and destruction, but through discipline, good manners, education, effort, patience, and construction," El-Sisi said.
He concluded his speech by thanking everyone who contributed in constructing the Phosphatic and Compound Fertilizers Complex.