- The Minister reviewed the proactive measures adopted by the company to ensure full compliance with environmental standards.
- Project investments are estimated at USD 200 million, making it the first of its kind in Egypt and the Middle East.
Dr. Mohamed Farid Stated that:
- MIFT places great emphasis on localizing precision industries that contribute to deepening domestic manufacturing.
- We aim to adopt new technologies and enhance operational efficiency in local factories.
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade (MIFT Minister), met with a delegation from DrasChem Specialty Chemicals to follow up on the progress of establishing the first sodium cyanide and derivatives production plant in Egypt and the Middle East, and the second in Africa, with investments of approximately USD 200 million.
It is noted that in November 2024, DrasChem obtained an approval from the Council of Ministers to establish a private free zone on 157,000 square meters in the Nahda area of Alexandria. The free zone will be dedicated to the production of specialized chemicals, including sodium cyanide and its derivatives.
Dr. Farid emphasized that MIFT prioritizes the localization of precision industries to strengthen domestic manufacturing and open new export opportunities.
In addition, he highlighted that MIFT will closely monitor the completion of project licenses and legal requirements to ensure the project launches according to the planned schedule, noting that collaboration with international partners allows the transfer of advanced expertise and technologies to Egypt, thereby enhancing the country’s ability to adopt new technologies and improve the business environment for investors in specialized industries.
The Minister reviewed the proactive steps taken by DrasChem to ensure full environmental compliance. The company responded to recommendations from the Egyptian Environmental Affairs Agency by using global SAFETI and PHAST models for quantitative risk analysis and adhering to the International Cyanide Management Code (ICMC) recognized by the UN and the World Bank, ensuring the highest standards of safe and responsible operations.
Dr. Farid noted that working with international partners enables Egypt to benefit from cutting-edge expertise and advanced technologies in the chemical industry, enhancing the country’s ability to adopt new technologies and improve the operational efficiency of local factories.
The Minister concluded the meeting by confirming that all necessary facilitation will be provided to DrasChem to complete its final licenses, stressing that Egypt supports projects that adopt advanced technology and comply with environmental responsibility.
Company officials praised MIFT’s attention and continuous follow-up, emphasizing that the government support helps accelerate the completion of procedures and enables the company to adhere to the planned schedule.
They added that the project facilitates the transfer of advanced technology to Egypt, strengthens local workforce capabilities in specialized chemical industries, and ensures full adherence to the highest international safety and environmental standards.
