Egypt has signed a $140 million long-term syndicated financing agreement for the first phase of a metallic silicon and derivatives production complex in the industrial zone of New Alamein, according to the Ministry of Petroleum and Mineral Resources.
The agreement was signed by Alamein for Silicon Product Company with a banking consortium comprising Qatar National Bank Egypt (QNB), Commercial International Bank (CIB), and Banque du Caire, while the National Bank of Egypt (NBE) is serving as financial advisor to the project.
The complex is one of the flagship projects of the Egyptian Petrochemicals Holding Company (ECHEM) and aims to establish an integrated industrial base for the production of metallurgical-grade silicon and its derivatives. The project will leverage Egypt’s high-purity quartz resources, shifting the country away from exporting raw materials toward higher value-added manufacturing.
Designed to support downstream mining and advanced industrial sectors, the project has received the Egyptian Cabinet’s Golden License, providing unified approvals for construction, operation, and licensing to accelerate implementation.
Development will take place across four phases. The first phase targets an annual production capacity of 45,000 tonnes of metallurgical-grade silicon, with total investments estimated at $200 million. This phase is expected to create around 300 direct jobs and approximately 3,000 indirect jobs across supply chains, logistics, and supporting industries.
Subsequent phases will focus on silicon derivatives, including a polysilicon plant with an annual capacity of 25,000 tonnes for electronics and solar cell manufacturing. Additional stages will cover intermediate silicons and finished products such as silicone rubber and silicone oil, positioning Egypt as a regional hub for silicon industries in the Middle East and Africa.