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Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla said Tuesday that the expected income from the country’s Al Wadi for Phosphate Industries Company will register $336 million a year.
El-Molla was chairing the company’s constituent assembly, during which he said that the project’s production capacity amounts to 500,000 tonnes per year, with an estimated investment cost worth $900 million.
The project provides 2,000 direct job opportunities and about 3,000 indirect job opportunities, according to a statement. The entire production will be exported overseas.
Source: Mubasher
