The agreement was signed by Amgad Kamel, the chairman of Alamein Silicon Products Company, with a banking consortium comprising QNB Egypt, Commercial International Bank (CIB), and Banque du Caire, with the National Bank of Egypt serving as the project’s financial advisor.
Minister Badawi said the project represents a strategic investment in localizing a high-value-added industry, contributing to economic returns for the state and helping reduce Egypt’s import bill.
He added that the ministry aims to expand financing mechanisms for value-added and petrochemical projects in the near future to accelerate implementation and maximize their economic impact.
The project, affiliated with the Egyptian Petrochemicals Holding Company, seeks to establish an integrated industrial complex for the production of metallic silicon and its derivatives, maximizing the value added from Egypt’s ultra-high-purity quartz instead of exporting it as raw material.
The complex is expected to strengthen downstream mining industries and serve as a foundation for a strategic sector supplying advanced industries.
The complex has obtained the cabinet’s Golden Licence, which provides unified approvals for construction, operation, and licensing to fast-track execution.
Development will occur in four phases, starting with the first phase, which targets an annual production of 45,000 tons of metallic silicon with an investment of $200 million. This phase is expected to create 300 direct jobs and about 3,000 indirect jobs across supply chains, logistics, and supporting industries.
Subsequent phases will include the production of silicon derivatives, most notably a polysilicon plant with a capacity of 25,000 tons per year for use in electronics and solar energy industries, along with intermediate silicones and final products such as silicone rubber and silicone oil. This positions Egypt as a regional hub for silicon industries in the Middle East and Africa.
The signing ceremony was attended by senior officials from the Egyptian Petrochemicals Holding Company, including its chairman and newly appointed leadership, as well as vice chairmen responsible for finance, operations, planning, projects, and business development.
Egypt announced the construction of this complex in 2023 with total investments worth $172 million.
Egypt’s real GDP growth is projected to expand by over five percent in FY2025/2026, which ends on 30 June 2026, driven by private-sector activity and the impact of the country’s economic and structural reforms.
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