Samia al - Faqi
Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade, met with the delegation of the Deraschem Specialist Chemical Company (Draschem) to follow up on the operational position to establish the first production plant Sodium cyanide. Its derivatives in Egypt and the Middle East, and the second in Africa, are estimated at $200 million.
It is reported that in November 2024, a study of specialized chemicals approved by the Council of Ministers the establishment of a private free zone of 157,000 square metres in the Skandariyah Renaissance region, with the free zone competent to engage in the manufacture and production of specialized chemicals, including sodium cyanide and its derivatives.
Micro-industries
Dr. Fred stressed that the Ministry attached great importance to the settlement of micro-industries that contributed to deepening domestic industrialization and opening new export prospects.
The Minister explained that the Ministry would closely follow up on the completion of project licences and legal procedures to ensure that it was launched according to the planned schedule, noting that cooperation with international partners allowed the transfer of advanced expertise and techniques to Egypt, thereby enhancing the capacity of the State to absorb new technologies and improving the business environment for investors in specialized industries.
Proactive steps
The Minister undertook the proactive steps taken by the company to ensure full environmental compatibility, following the company ' s response to EPA recommendations through the use of SAFETI and PHAST global models for quantitative risk analysis, and compliance with the standards of the International Cyanide Management Code recognized by the United Nations and the World Bank, to ensure the highest standards of safe operation and responsibility
The Minister drew attention to the fact that cooperation with international partners allowed Egypt to benefit from the latest advanced expertise and techniques in the chemicals industry, explaining that this would enhance the capacity of the State to absorb new technologies and improve the operational efficiency of local factories.
Provision of all facilities
The Minister of Investment concluded the meeting by emphasizing that all facilities should be provided for Daskim to complete its final licences, stressing that the Egyptian State supports projects that adopt advanced technology and are committed to environmental responsibility.
The company officials commended the Ministry ' s interest and continued follow-up to the project, stressing that the support of government agencies contributed to accelerating the completion of the procedures and enabling the company to adhere to the planned schedule.
The project allowed for the transfer of advanced technology to Egypt and enhanced the capacity of local cadres in specialized chemical industries, with full adherence to the highest standards of safety and the international environment.
Read also: Record flows in ETFs. Are institutions poised to exit? via Planet News
