Two contracts totalling $740m have been signed for planned chemical projects to be developed in Egypt.

The Indorama Egypt Fertiliser project will be established in the Sokhna Industrial Zone on a site covering 522,000 square metres (sq m), with planned investments of $525m for the first phase.

The project is expected to provide up to 2,500 direct job opportunities during the operational phase, in addition to 500 jobs during the construction stage.

It will establish an integrated industrial complex for fertilisers and basic chemicals, with an annual production capacity of up to 600,000 tonnes in the first phase.

This will include the production of phosphate fertilisers and a range of related products, such as rock phosphate, ammonia, sulfur, potash and urea, along with specialised chemicals such as zinc sulfate, boric acid and sodium molybdate.

The complex is designed to support agricultural and industrial supply chains, with around 80% of production directed towards exports.

The contract was signed by Moustafa Sheikhon, the vice-president of the General Authority of Sokhna Industrial Zone, and Mukul Agarwal, the chief executive of Indorama.

The second contract was for the planned Polyserve Egyptian chemicals project, which is expected to be worth $215m.

The project is also being developed in the Sokhna Industrial Zone.

It is being developed on an area of 650,000 sq m, and will be designed with a nameplate capacity of 3.5 million tonnes a year.

The contract was signed by Sheikhon and Mostafa El-Gabaly, the chief executive of Polyserve for Fertilisers & Chemicals.

Polyserve is a diversified Egyptian firm with operations spanning mining, fertilisers and chemicals.

Its portfolio includes the production of sulfuric and phosphoric acids as well as specialty and compound fertilisers.