Photo courtesy of Egypt's cabinet
The project, developed by Egypt’s Poly Serve Chemicals, will be established in the integrated Sokhna industrial zone affiliated with the Suez Canal Economic Zone (SCZone).
The agreement was signed at the government headquarters in the New Capital in the presence of Minister of Petroleum and Mineral Resources Karim Badawi and SCZone Chairman Walid Gamal El-Din.
Spanning 650,000 square metres, the project will be implemented with total investments estimated at $215 million, including 40 percent self-financing. It is expected to produce up to 3.5 million tonnes annually and create around 500 direct jobs.
Poly Serve operates across mining, fertilizers, and chemical industries, including the production of basic chemicals, nitrogen compounds, specialized fertilizers, and sulphuric and phosphoric acid.
Madbouly said the project supports the state’s direction to localize industry, noting that such investments help reduce imports and boost exports while strengthening the competitiveness of Egyptian products in regional markets.
He added that the SCZone continues to offer a conducive business environment, helping attract high-added-value private-sector investments.
Gamal El-Din said the project will directly support petroleum services and agricultural development, adding that the zone is working to diversify its investment base in line with its strategy to promote industrial integration and technology transfer.
He highlighted the zone’s strategic location along the Suez Canal and the integration between its Red Sea and Mediterranean ports as key advantages in facilitating trade and overcoming global supply chain challenges.
The SCZone is targeting investments across 21 sectors as part of its broader plan to expand industrial and logistics activities and position Egypt as a regional manufacturing and export hub.
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