February 16, 2020 - Egypt's Evergrow is planning to invest a total of 23 billion Egyptian pounds ($1.46 billion) in new and ongoing projects between 2020 and 2023, the company chairman said.  The fertiliser and speciality chemicals producer is planning a 9 billion pounds ($573 million) plant in Aswan to manufacture sulphuric acid and phosphoric acid in a joint venture with Belgium's EcoPhos, Mohammed Alkheshn told Zawya Projects.  He said EcoPhos is an equal stake partner in the company's under-construction dicalcium phosphate (DCP) plant in Sadat City to produce animal feed.  The Evergrow chief didn't disclose the Aswan plant's production capacity but said he expected it to be ready by end-2023.  He also disclosed that the company is planning to build a new 10 billion pounds ($637 million) fertiliser plant in Sadat City.  "The factory would be developed in coordination with two global firms in the fertiliser field, and provide 1,000 direct and 4,000 indirect job opportunities," he said without disclosing the capacity and product mix.  Meanwhile, the 4 billion pounds ($255 million) DCP plant with a total capacity of 110,000 tonnes/year, is expected to start operations by the third quarter of 2020, said Alkheshn.  "Once it comes online, it will increase our annual production capacity by 240,000 tonnes," he said while clarifying that the DCP plant forms the third phase of the fertiliser production complex in Sadat City.  The first two phases combined, he continued, produce 1 million tonnes of speciality fertilisers and chemicals including sulphuric acid, potassium sulphate, calcium chloride, calcium nitrate and NPK fertilisers.  He said investments in the new plant and DCP plant added to the EGP 6 billion ($382 million) investment in the first two phases of the existing complex, would take the company's total investments in Sadat City industrial zone to EGP 20 billion ($1.27 billion).  He said the company is in negotiations with European and Gulf banks to secure loans for financing the new Sadat and Aswan plants but didn't give more details.