Silicon complex in New Alamein at $172 mln

Silicon complex in New Alamein at $172 mln

The Minister of Petroleum and Mineral Resources Tarek El-Molla announced Monday the founding of a new complex for silicon production in New Alamein City with total investments worth $ 172 million.

This came during the inaugural meeting to kick off the project at the
headquarters of The Ministry of Petroleum and Mineral Resources, which
was attended by shareholders of the new Alamein Complex for Silicon
Products and top officials from the ministry.

This project aims to maximise the value added from the natural
resources available in Egypt by producing high-value products instead of
importing them.

The complex will be constructed on 200 feddans (200 acres) on land
owned by the Egyptian Petrochemical Holding Company in New Alamein City,
according to a statement released by the petroleum ministry.

It will be implemented through four phases with different production
capacities ranging from 10,000 to 100,000 tons of silicon and its
derivatives annually.

The country’s revenue from the production of metallic silicon will be
$3,400 per ton and from the production of polysilicon will be $15,000
per ton compared to sale of quartz – the raw material – at about $15 per
ton – Amjad Kamel, the head of the project said.

Kamel added that this project would mainly benefit from Egypt’s quartz reserve, estimated at 40 million tons.

The private sector is contributing 30 percent of the investments for
the project as part of the Egyptian government’s efforts to increase the
involvement of the private sector in national and strategic projects,
according to Kamel.

The shareholding structure of the new Alamein Complex for Silicon Products includes the Egyptian
Petrochemicals Holding Company (ECHEM), the Egyptian mineral resources
authority, (EMRA), the Egyptian Company for Mineral Resources (ECMR), ‎the
Metallurgical Industries Holding Company, the Egyptian Ferrous Alloys,
in collaboration with Ebdaa for Projects Development, in addition to
Libra Capital and Central Desert Mining Company.


No Comments

Post A Comment