CAIRO – Austria's Petrochemical Holding and the Czech company Draslovka have announced plans to build a sodium cyanide plant in Egypt.
According to an official statement, the project will meet local demand and export 80% of production to the Mediterranean Basin, the Middle East and Africa.
The sodium cyanide project will serve a number of strategic industries, including mining, pharmaceuticals and agrochemicals, said Ahmed Sameer, Minister of Trade and Industry.
At a meeting with representatives from Draslovka and Petrochemical Holding, Sameer added that the initial stage of the project is expected to attract investments of $160 million.
He said the project will transfer Europe's advanced expertise and technology in the petrochemical industry field to Egypt, increasing Egypt's exports, especially to African countries.
Sodium cyanide is an important compound in various industries, especially gold mining, where it is responsible for extracting gold from ore. Its wide range of applications extends to electroplating and the production of organic chemicals.
In early April, the Suez Canal Economic Zone (SCZONE) signed an agreement with Chinese company WU'AN XIN FENG for an investment of $297 million.
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