Asia
24 February 2026
Xingfa sets sights on $2bn Egypt phosphate build as it lifts home-mine scale
Written by Natalie Noor-Drugan
China’s Xingfa Chemicals Group is planning to invest $2bn in a three-phase project for phosphate ore exploration, extraction and downstream production in Egypt’s Golden Triangle Economic Zone, according to Egypt’s Ministry of Petroleum and Mineral Resources. The ministry said the project would progress once a memorandum of understanding is finalised, alongside technical exchanges and feasibility work.
Petroleum minister Karim Badawi said the proposed investment aligns with Egypt’s push to expand value-added industries based on its mineral resources and attract technologically advanced companies. He also linked the initiative to a wider economic development agenda in which the energy sector, including mining, is positioned as a priority area.
