Chinese Chemical Giant "Xingfa" to Invest $2 Billion in Egypt’s Golden Triangle

The Chinese group "Xingfa," a global leader in phosphorus chemicals, has announced plans to invest $2 billion in an integrated phosphate exploration and production project in Egypt's Golden Triangle region. The announcement followed high-level talks between Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, and a delegation led by Group Chairman Cheng Yali. The project will be implemented in three phases, covering exploration, extraction, and the manufacturing of high-quality chemical products.

Minister Badawi emphasized the government's full support for the project, aiming to localize advanced industrial technologies and maximize the value of Egypt’s mineral wealth. The Chinese delegation praised Egypt’s evolving investment climate, stating that this strategic partnership will facilitate the transfer of technical expertise and establish a robust industrial base in the Egyptian market.