A consortium of nine prominent Egyptian firms is poised to launch a phosphoric acid production project in the Abu Tartur region, with an estimated total investment of $1.2 billion, according to Al Arabiya Business.

The consortium is currently exploring two potential funding strategies for the project. The first approach involves securing approximately 65% of the total investment from external financing sources, such as banks and investment firms, while the remaining 35% would be covered through internal funding from the consortium members themselves. This model aims to leverage external capital while maintaining a substantial portion of self-financed investment.

Alternatively, the consortium is considering a second option that could include inviting a new local or international investor to join the project. This new investor would provide the necessary capital in exchange for an equity stake in the project, potentially bringing additional expertise and resources to the venture. This strategy could enhance the project's financial stability and broaden its investment base.

According to the official that was quoted by Al Arabiya Business, the project is slated for completion within approximately 36 months. Once operational, it is expected to have an impressive production capacity of up to 900,000 tons of phosphoric acid per year, with a concentration of 54%. This high level of production is designed to meet both domestic and international demand, positioning the project as a key player in the global phosphoric acid market.

Abu Tartour For Phosphoric Acid (AT-PHOS) has been designated as the entity responsible for the day-to-day operations of the project. This company will manage the production facility on behalf of the consortium’s shareholders, ensuring that the project meets its operational and production goals. Notably, Misr Phosphate Company is set to hold a significant stake in the project, with an estimated share of nearly 24%. This substantial involvement underscores Misr Phosphate Company’s commitment to the success of the venture.

The consortium is composed of several leading Egyptian companies, each bringing a unique set of expertise and resources to the project. Among the key participants are Engineering for Petroleum and Process Industries (ENPPI), Petroleum Projects and Technical Consultations Company (PETROJET), and the Chemical Industries Holding Company. Additionally, Abu Qir Fertilizers and Chemicals Industries Company, Misr Phosphate Company, and East Gas Company are also involved, along with several other firms. This diverse and experienced group of companies is expected to contribute significantly to the project’s development and success.

Overall, the Abu Tartur phosphoric acid production project represents a major investment in Egypt’s industrial future. With a focus on high production capacity and strategic financing, the project is set to play a crucial role in advancing the country’s chemical industry and enhancing its global competitive position. The next few months will be critical as the consortium finalizes its financing strategy and prepares for the project’s execution.