Tunisia has approved a plan to invest nearly 525 million Tunisian dinars ($165 million) to expand its phosphate production by nearly five times in 2030, a newspaper reported on Monday.

The five-year plan, starting in 2025, will increase phosphate output by 1.5 million tonnes per year to nearly 8.5 million tonnes by 2030, the paper said.

“The plan was prompted by a sharp recovery in the phosphate industry over the past year following a steady decline in the previous years,” it said.

It quoted Abdul Qadir Al-Ameedi, general manager of the state-owned Compagnie des Phosphates et de Chemin de Fer de Gafsa (CPG), as saying the investments include around TND238 million ($76 million) for the import of new equipment and TND242 million ($78 million) for mine development.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com) 

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.