Shandong Tianyi Chemical inks $110M deal to establish bromine extraction complex in SCZone
Updated 9/8/2024 4:38:00 AM
Arab Finance: The Suez Canal Economic Zone (SCZone) has signed a $110 million agreement with China's Shandong Tianyi Chemical Corporation to establish a global industrial complex for bromine extraction, as per a statement.
The project will utilize waste from seawater desalination to extract bromine.
During the Forum on China–Africa Cooperation (FOCAC) in Beijing, Chairman of the SCZone Waleid Gamal El-Dein revealed that the project will cover an area of 120,000 square meters and marks the first bromine extraction facility of its kind in the Middle East and Africa.
Gamal El-Dein also noted that this project aligns with the President Abdel Fattah El-Sisi’s efforts to localize the bromine industry.
The agreement includes a contract for the supply of highly saline water, essential for production.
It also covers two usufruct contracts; one signed between Shandong and the SCZone for the construction of a bromine ore production plant on 80,000 square meters (sqm), and another signed between the Chinese company andTEDA Egypt for the establishment of bromine ore plant on a 40,000-square-meter land.
Related News
