The European Bank for Reconstruction and Development (EBRD) is strengthening Egypt’s industrial sector by lending US$ 20 million (€17.5 million) to Futurefert to support its capital expenditure programme.
The EBRD financing will support the construction and operation of three interconnected plants – a sulphuric acid plant, a potassium sulphate plant and a single superphosphate plant – in the Suez Canal Economic Zone, within the Northwest Gulf of Suez Special Economic Zone. The three plants, which will be used for exports to European and African markets, will cover a total area of 127,000 square metres and involve total investment of US$ 45.65 million (€39.9 million).
Futurefert’s expansion is expected to create approximately 300 direct job opportunities, contributing to local employment and industrial development.
Futurefert is a steam?granulated fertiliser mixer operating in the Suez Canal Economic Zone. The company produces high-quality granular NPK fertilisers, primarily for export, with an annual production capacity of 240,000 metric <a href="https://menainsights.com/the-cma-cgm-foundation-transported-600-tonnes-of-emergency-aid-pre-positioned-by-the-european-union-from-turkey-to-lebanon-in-partnership-with-the-world-food-programme/”>tonnes, and is wholly owned by Sharkia Holding Limited.
Egypt is a founding member of the EBRD. Since the Bank began operating in the country in 2012, it has invested more than €14.3 billion across 222 projects, supporting the development of a sustainable, competitive and inclusive economy.