Chinese chemicals major Hubei Xingfa Chemicals Group Co. is planning a $2 billion investment in Egypt’s phosphate ore industry, as part of a proposed integrated mining and downstream chemicals project in the Golden Triangle Economic Zone, the Ministry of Petroleum and Mineral Resources said.
The project, currently under discussion with Egyptian Ministry of Petroleum and Mineral Resources, would cover the exploration, extraction, and processing of phosphate ore, with development expected to proceed in three phases following the signing of a memorandum of understanding and completion of feasibility studies.
Xingfa, one of China’s leading producers of phosphorus-based chemicals, indicated that the investment would prioritize value-added phosphate products, aligning with Egypt’s strategy to move beyond raw mineral exports and deepen domestic industrial capabilities.
Petroleum and Mineral Resources Minister Karim Badawi said the proposed investment supports Egypt’s broader mining reform agenda, which aims to attract technologically advanced global partners, expand downstream manufacturing, and raise the sector’s contribution to GDP.
The discussions also reflect deepening Egypt–China economic ties, as Cairo steps up efforts to position mining and energy among its priority sectors for growth, foreign investment, and job creation through 2030.
