Egypt’s General Authority for the Golden Triangle Economic Zone (GTEZ) has attracted significant interest from both Egyptian and international investors, with three offers worth $1.6 billion to build phosphate fertilizer facilities in Safaga.
According to Adel Said, the Head of GETZ, the first project comes from the Egyptian Financial and Industrial Company, with an estimated investment cost of $600 million. The second offer was submitted by Egyptian businessman Mahmoud Muharram, proposing to establish a phosphate fertilizer and phosphoric acid factory on a 50-feddan plot in Egypt’s Golden Triangle area, with initial investments of $150 million.
The third offer is an Australian coalition led by Lion Bridge, affiliated with Wisen Group, and West Tech, aiming to invest $875 million to set up a phosphoric acid production plant.
The location of the proposed plants near Red Sea ports such as Safaga and Al Ain Sokhna offers convenient export opportunities, with a significant portion of the phosphate fertilizer production expected to be earmarked for international markets.
