Core Viewpoint - China Kunming Chuanjin Nuo Chemical Co., Ltd. has signed an agreement with El Sewedy Industrial Development to invest in a large phosphate chemical project in the Suez Canal Economic Zone, with a total investment of $1 billion [1] Investment Details - The project will cover an area of 905,000 square meters and is expected to create approximately 10,000 jobs, with most products aimed at the international market [1] - The project will be developed in three phases: - Phase 1 will start construction in 2026, focusing on the production of phosphate fertilizers - Phase 2 is expected to begin in 2029, concentrating on fine phosphate chemical products, including industrial-grade and food-grade purified phosphoric acid and mono-potassium phosphate - Phase 3 is anticipated to start in 2032, extending the industrial chain into the field of new energy materials [1] Government Support - The Egyptian Prime Minister, Madbouly, expressed high appreciation for the project, viewing it as a significant achievement for the introduction of major industrial projects in the Suez Canal Economic Zone [1] - The Chairman of the Suez Canal Economic Zone Authority, Walid Gamal El-Din, stated that signing this large industrial complex construction project is an important step in advancing the localization of heavy industry and industrialization in the region [1]