Dr. Sayed El Khouly, Professor of Economy and Production Administration, said that Egypt has plenty of natural resources in each governorate
Dr. Sayed El Khouly, Professor of Economy and Production Administration, said that Egypt has plenty of natural resources in each governorate and we started to use them since President Abdel-Fattah e-Sisi took power as he started to work according to a strategy to maximize the use of our resources.
Commenting on the inauguration of a complex for the industrial concentration and separation of heavy metals extracted from black sand at the Egyptian Black Sand Company (EBSC) in Borolos city in Kafr El-Sheikh governorate, El Khouly illustrated over phone with (Special Edition) that Egypt used to export its raw material which did not affect its economy growth but now the country directed its raw material to the industrial sector. Minerals extracted from black sand are very important in several industries, he mentioned.
He stressed on the significance of the added value of the black sand which could open a new horizon of investment that consolidates national economy and comprehensive development by providing foreign currency and decreasing budget deficit which will be reflected on the Egyptian pound, the individual income, and the social services provided by the country.
As an expert, he believed that the Black Sand plant will transform the north of the delta specially Kafr El-Sheikh governorate into a huge investment area. We can also attract industries, which use black sand, and investors to set up new industrial complexes in Egypt, El Khouly said, assuming that we will attract more investments to Egypt as well as setting a model for other African nations loaded with natural resources that which have been used by multinational companies at lower prices.
He believed that the private sector has to play a role in Egypt’s economic growth, stressing that they should be encouraged to take part in such mega projects to increase exports to Africa, Arab countries and most of Europe.
Black sand is considered a real investment in renewable energy, the professor mentioned, pointing to the shortage of energy Europe is about to face in the coming months. Egypt will be able to use all sources of renewable energy especially solar energy to satisfy our local needs and export the excess capacity of power supply to other countries
It is pertinent to mention that the Black Sand plant in Kafr el Sheikh is the first of its kind in the world, with the most advanced mining equipment.
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