A Singapore-based commodity trader has signed a partnership agreement with two Egyptian firms to build a plant for upgrading phosphate ore concentration to be used in more industries, newspapers in Egypt said on Thursday.

Wilson International Trading Private Ltd will build and operate the plant with the state-controlled El-Nasr Mining Company and Al-Safy Group, the Arabic language daily Addustour and other publications aid.

“This project represents an added value for phosphate ore and will support the import, export and storage of phosphates,” Egyptian Public Business Sector Minister Mohammed Esmat said after the signing in Cairo on Wednesday.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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