en.Wedoany.com Reported - Singapore's Indorama Corporation has officially signed a contract with the Suez Canal Economic Zone (SCZONE) to build a large-scale phosphate fertilizer and chemical complex in the Ain Sokhna Industrial Zone, Egypt. Named "Indorama Egypt Fertilizers Company," the project involves an initial investment of $525 million. It will utilize local natural resources to produce high-value-added fertilizer products, supporting Egypt's industrial manufacturing and export trade.

The facility is located within the Suez Canal Economic Zone, covering an area of 522,000 square meters. According to the plan, the first phase will have an annual production capacity of 600,000 tons, with products ranging from phosphate fertilizers to a series of related industrial inputs and chemical products. During the construction and operational phases, the project is expected to create approximately 500 and 2,500 jobs respectively.

Indorama Egypt Fertilizers Company adopts an export-oriented model, with about 80% of its output expected to be supplied to the global market. Currently, the investment agreement for the project has been signed, marking its official transition from the planning phase to the construction preparation stage. As part of the supporting infrastructure, the facility will fully leverage the geographical advantages of the Ain Sokhna Industrial Zone, integrating mineral resource processing with downstream chemical production.

Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone, stated that the launch of this project reflects the zone's strategy of attracting high-capital and technology-intensive specialized industrial investments. For Indorama, this expansion into the Egyptian market aligns with its global growth strategy in the downstream chemicals and fertilizers sector, further strengthening its infrastructure presence in emerging markets.

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