An Australian consortium, consisting of the Wesson Group and WesTech Group, has announced plans to set up a new company called Osiris for the implementation of an $875 million phosphoric acid production plant in Safaga, Egypt.
The project, situated along the Red Sea coast, will have a total annual production capacity of 692,000 tons and will be carried out in two phases.
According to a government official, the first phase, costing approximately $312 million, will produce 346,000 tons of phosphoric acid, while the second phase will involve investments of up to $563 million.
