The European Bank for Reconstruction and Development has agreed a US$ 20 million (€17.5 million) loan to Futurefert in Egypt to fund an expansion in the Suez Canal Economic Zone.
The money will support the construction and operation of three connected industrial plants — a sulphuric acid plant, a potassium sulphate plant and a single superphosphate plant — in the Northwest Gulf of Suez Special Economic Zone, according to the EBRD.
The three plants will cover a total area of 127,000 square metres and form part of a wider US$ 45.65 million (€39.9 million) investment programme.
Futurefert’s expansion is expected to create about 300 direct jobs, the bank said.
Export-focused fertiliser production
The plants are planned to supply European and African markets, according to the EBRD.
Futurefert is a steam‑granulated fertiliser mixer that produces granular NPK fertilisers — products containing nitrogen, phosphorus and potassium — mainly for export, with an annual production capacity of 240,000 metric tonnes.
The company is wholly owned by Sharkia Holding Limited.
Egypt has been a member of the EBRD since its founding, and the bank has invested more than €14.3 billion in the country across 222 projects since it began operating there in 2012.
