Monday, 25 May 2026
Egypt and Saudi Arabia discuss boosting investment in petrochemical and fertilizer industries
Egypt’s Minister of Petroleum and Mineral Resources, Engineer Karim Badawi, met with a delegation from the Saudi Egyptian Investment Company, a subsidiary of Saudi Arabia’s Public Investment Fund, to discuss enhancing Saudi investment in Egypt’s petrochemical and fertilizer sectors.
During the meeting, the latest developments in the company’s investments were reviewed, particularly its participation in the Misr Fertilizers Production Company (MOPCO) and Abu Qir Fertilizers. Minister Badawi highlighted recent steps Egypt has taken to boost local production and secure imports, ensuring a stable supply of natural gas to all sectors, including petrochemical and fertilizer factories. This has allowed these industries to resume full production capacity, meeting local demand and supporting expanded exports to global markets, ultimately strengthening the industry’s contribution to Egypt’s economy.
Badawi added that Egypt has overcome recent setbacks in oil and gas production and is now seeing a gradual increase in output. The Ministry of Petroleum, he said, is committed to working with all investment partners to address any challenges that could affect these vital sectors, which are key pillars of Egypt’s oil and gas industry.
Representatives from the Saudi Egyptian Investment Company expressed appreciation for the Ministry’s support and reiterated their long-term commitment to investing in Egypt’s oil, gas, petrochemical, and fertilizer sectors, which they regard as major areas of economic cooperation between Egypt and Saudi Arabia.