Cairo – Mubasher: Austria’s Petrochemical Holding and Czechia’s Draslovka company announced plans to build a sodium cyanide factory in Egypt.
The project is set to meet the local demand and export 80% of its output to the Mediterranean Basin, Middle East, and Africa, according to an official statement.
The sodium cyanide project will serve many strategic industries including mining, pharmaceuticals, and pesticides, stated Ahmed Samir, Minister of Trade and Industry.
The initial phase of the project is set to attract $160 million in investments, Samir added during a meeting with a delegation from Draslovka and Petrochemical Holding.
He noted that the project will see the transfer of advanced European expertise and technology in the field of petrochemicals industry to Egypt, and raise Egyptian exports, especially to African countries.
Sodium cyanide is a critical compound in various industries, notably in gold mining for its role in extracting gold from ore. Its widespread use extends to electroplating and the production of organic chemicals.
Earlier in April, the Suez Canal Economic Zone (SCZONE) signed an agreement with the Chinese company WU'AN XIN FENG with $297 million in investment.
