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Egypt-based Polyserve Group is set to develop a $215 million phosphate chemicals project in the Sokhna Industrial Zone within the Suez Canal Economic Zone (SCZONE).
The development will span an area of approximately 650,000 square metres (sqm) and is designed to achieve production capacity of up to 3.5 million tonnes annually, SCZONE said in a press statement.
Around 40 percent of the project will be self-financed, with the remainder expected to be funded through external sources, the statement said.
The project involves extracting, processing and utilising phosphate for the production of phosphate fertilisers and phosphoric acid, and is expected to create around 500 direct jobs.
Polyserve will own a 30 percent stake in Nile Ferchem, a new joint stock company being set up by EGX-listed Ferchem Masr to develop a phosphate ore-to-fertiliser complex in the Sokhna Industrial Zone. Ferchem Misr, which will own 60 percent in the new venture, said in a stock exchange statement on Tuesday that the project builds on a previous agreement signed with the Egyptian Company for Mineral Resources (ECMR) to build a phosphate ore extraction and concentration facility.
Polyserve operates across mining and fertiliser manufacturing, with activities including quarrying, extraction of chemical minerals, and production of sulphuric acid, phosphoric acid and compound fertilisers.
On Tuesday, Singapore-headquartered Indorama Corporation signed a partnership agreement with Egypt’s state-owned Misr Phosphate to establish a phosphate fertiliser plant in the Sokhna Industrial Zone. The project will have a production capacity of up to 600,000 tonnes per year in the first phase, with an estimated investment of up to $525 million.
In November 2025, China’s Kunming Chuan Jin Nuo Chemical (CJN) had signed an agreement with Egypt’s El Sewedy Industrial Development to build a $1 billion integrated phosphate chemical complex in the Sokhna industrial zone.
(Writing by Eman Hamed; Editing by Anoop Menon)
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