Government vets offers from three global consortiums for development of USD 1.4 bn Abu Tartour phosphate fertilizers project
INVESTMENT WATCH- Government vets offers from three global consortiums for development of USD 1.4 bn Abu Tartour phosphate fertilizers project: The government is vetting offers from three global consortiums for the development of the c. USD 1.4 bn phosphate fertilizers production complex in Abu Tartour, Al Ahram reports. Spain’s Intecsa Industrial, Italy’s Saipem, and the China State Construction Engineering Corporation, according to project manager Khaled Salama. The bulk of the cost will be directed to USD 800 mn production facility. The plan also includes a EGP 400 mn railway line that will connect to the Safaga Port through Qena to facilitate the transport of raw materials and finished goods, he said. Construction is scheduled to start early in 2019 with the project set to go live in the final quarter of 2021, said Medhat Mounir, the head of the state-owned El Wadi Phosphate (which owns the project). Output will be earmarked for exports to markets including East Asia, India, and Europe, according to Salama. The Texas-based Fluor Corporation was awarded the project’s design and management consultancy contract back in March and had said then it would fast-track its work, without specifying a clear timeline.