Elsewedy, Futurefert sign contract to launch green fertilizer project in Ain Sokhna

Updated 12/4/2023 2:33:00 PM
Elsewedy, Futurefert sign contract to launch green fertilizer project in Ain Sokhna

Arab Finance: Elsewedy Industrial Development, a subsidiary of Elsewedy Electric, has signed a land allocation contract with Futurefert Egypt, a subsidiary of UAE-based Sharkia Holding Limited, to establish a green fertilizer plant in Sokhna Industrial Zone’s Sokhna 360 project, as per an emailed press release.

The project is set to be executed on a 127,000-square-meter area, with expected investments of $50 million for the first and second phases.

The plant aims to produce 300,000 tons of green fertilizers in the first phase through employing the latest manufacturing technologies, which reduce 90% of emissions, in addition to recycling industrial waste.

Moreover, the project targets providing 500 new job opportunities.

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