PM – National Company for ‘Black Sand’ to Be Established

Prime Minister Ibrahim Mahlab approved on Tuesday 992014 the establishment of an Egyptian company for exploiting black sand in Kafr el-Sheikh governorate.

The company will be established through contributions of government bodies, including the Egyptian Atomic Energy Authority, Nuclear Materials Authority, National Investment Bank, Egyptian Co. for Mineral Resources and Kafr el-Sheikh governorate.

During a meeting to follow up the project on Tuesday, Mahlab ordered inviting shareholders to take part in the project within two weeks.

“The project has a great economic feasibility as the black sand is used as a raw material in several industries,” the PM said.

“It will contribute to establishing more industrial investments which will create many job opportunities,” he added.

MENA

Source : Egypt State Information Service