Egyptian Cabinet Approves New Investments in Flax Production, Potassium Sulfate Plant

2 October 2024
Egypt State Information Service (Cairo)

The Egyptian Cabinet has greenlit a proposal to establish a private free zone named Kingdom for Flax, with an estimated investment of $60 million.

This project, situated in the Developers Zone of Sadat City in the Monufia Governorate, will focus on flax production, spinning, and weaving, spanning approximately 52,000 square meters.

It aims to generate over 500 jobs and plans to export all of its annual production, ensuring at least 30 percent of the production uses local components.

In addition, the Cabinet has granted the Golden License to the Egyptian Salts and Minerals Company (EMISAL), a private joint-stock company, for its potassium sulfate fertilizer plant.

This facility, with an investment exceeding LE 600 million, will be located in the village of Shakshouk in Fayoum Governorate, covering 5,600 square meters and creating 100 job opportunities.

The initiative seeks to introduce advanced technologies in potassium sulfate production, reduce environmental impacts by lowering emissions, and address rising salinity levels in Lake Qarun, aiding the preservation of its ecological balance.

Read the original article on Egypt Online.

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