CAIRO — Egypt’s Nasr Mining Company and Egyptian Ferroalloys Company have announced major expansion programmes aimed at increasing value-added mineral processing, expanding production capacity and strengthening export capacity, as both companies prepare for prospective listings on the Egyptian Exchange (EGX) under the government’s state-owned enterprise offering programme.
The planned listings form part of Egypt’s broader policy to deepen capital markets, attract greater private-sector investment and strengthen corporate governance across state-owned enterprises, while supporting industrial development and export-led growth.
Nasr Mining Plans US$400 Million Phosphate Complex
Abou El-Magd Meftah, Chief Executive Officer and Managing Director of Nasr Mining Company, said the company has established a joint venture with an Indian company identified as Wilson and an Egyptian investor to develop an integrated phosphate industrial complex with an initial investment of approximately US$400 million.
The project will process phosphate ore into higher-value products, including phosphate fertilizers, phosphoric acid and sulphur-based products, supporting Egypt’s efforts to increase domestic mineral processing and reduce reliance on exports of raw materials.
Meftah said the joint venture has been legally established and its issued capital fully paid. The project is currently completing land allocation procedures, with the site expected to be handed over within two months. Construction is expected to take around three years following receipt of the land.
The complex will utilise phosphate resources from the company’s mining concessions in the Red Sea Governorate and El Sebaiya in Aswan.
According to Meftah, converting phosphate into higher-value industrial products is expected to increase value added, improve profitability and generate additional foreign currency revenues through higher-value exports.
Public Listing to Support Future Investment
Meftah said a future EGX listing would broaden the company’s capital base, facilitate partnerships with strategic investors possessing advanced technical expertise, and improve access to financing for future investment projects and export expansion.
Egyptian Ferroalloys Expands Production
Separately, Eid Mehallal, Chief Executive Officer and Managing Director of Egyptian Ferroalloys Company, outlined an expansion programme focused on increasing production capacity and diversifying the company’s product portfolio.
The company plans to construct a fifth electric furnace to increase production of ferro-silicon, a key alloy used in steel manufacturing, followed by a sixth furnace dedicated to producing silicon manganese alloys.
The expansion is expected to increase annual production beyond the company’s current output of 50,000 to 65,000 tonnes, enabling it to serve broader domestic and export markets.
Egyptian Ferroalloys remains the only producer of ferro-silicon alloys in Egypt and the wider Middle East. The company supplies the domestic market while exporting more than 70% of its principal product to the European Union, in addition to customers in the United States, Türkiye and several Arab countries.
Expansion Tender Under Technical Evaluation
Mehallal said the company has launched a limited international tender for the expansion project and received bids from six international companies. A specialised technical committee is currently evaluating the proposals to identify the most suitable offer on both technical and financial grounds.
The company is also assessing financing alternatives for the expansion programme.
He said a future listing on the Egyptian Exchange would enhance the company’s visibility among investors and improve its ability to raise capital for additional production facilities and future growth.
Silica Fume Supports Domestic and Export Markets
The company also produces silica fume as a by-product. Mehallal said the material is used in fertilizer manufacturing, construction materials and infrastructure projects, including the Cairo Metro and Ain Sokhna Port, while surplus production is exported to Japan, Europe and other international markets.
Supporting Egypt’s Industrial Development
The investment programmes are consistent with Egypt’s strategy of expanding domestic mineral processing, increasing industrial value added and encouraging greater private-sector participation through the government’s state-owned enterprise offering programme.
If implemented as planned, the projects would strengthen Egypt’s downstream mining and metallurgical industries, expand export capacity and support the country’s long-term objective of developing more integrated industrial value chains while attracting additional investment into strategic sectors.
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