Egyptian President Abdel-Fattah El-Sisi inaugurates quartz production via video conference in Ain Sokhna on Thursday
“The quartz production complex is a good investment opportunity,” El-Sisi said, adding that he was sending "a message to all investors that everything we do and open is available to you."
He expressed his hope that investors and the private sector will not “waste any more time.”
The complex is a great industrial addition to the state’s comprehensive development, Chairman of the Egyptian Company for Mining, Management and Exploitation of Quarries and Salinas Abdel-Salam Shafik said, lauding the establishment of six large industrial complexes of marble and granite.
El-Sisi noted it will take $700 million to complete the remaining phases of the quartz project, pointing out that despite being a hefty sum Egypt will cover it within “3-4 years."
The president urged "the government to remove all hindrances facing Egyptian and foreign investors in order to utilize opportunities that would enable boosting production and exports."
Quartz crushing plant
The president also witnessed the opening of Marsa Alam’s quartz crushing plant, the annual production capacity of which stands at 140,000 tons, factory director Hossam Anwar said at the event.
Marsa Alam has one mine with a reserve of 3.5 million tons of quartz as well as five factories for quartz production, Shafik added.
The state will do its utmost to complete the administrative and bureaucratic procedures required to develop the mining industry, he emphasized.
The Egyptian Company for Mining -- a subsidiary of the Armed Forces’ National Service Projects Organization -- completed the quartz ore industrial complex under the directives of the Egyptian president.
Shafik noted the company provides crude phosphate to fertilizer companies to yield 500,000 tons of production capacity per year.
Quartz, commonly known as “white gold,” is mined from the Red Sea mountains. It is used in the manufacture of photovoltaic solar cells, electronic boards, computer chips, vehicles, microelectronic devices, iron and steel, and quartz panels.