The Egyptian Black Sand Company (EBSC) – an affiliate to the National Service Projects Organization – signed on Tuesday a memo with the Chinese company Weiyuan Minerals LT co to establish a joint black sand company.
The memo is meant to support Egypt's efforts to realize comprehensive development and establish more national projects to contribute to boosting all economic sectors.
new company will magnify the benefit of available economic resources and the
added value of minerals extracted from black sand.
Under the memo, the Chinese company will train Egyptian cadres working in the minerals domain.
This will help developing minerals industry, diversifying economic resources and covering local market needs of minerals and may even secure a surplus for exportation.
EBSC Board Chairman Ezz-Eddin Saleh underlined the importance of the project will secure thousands of jobs for Egyptians and will help benefiting from international experts and having qualified technical cadres in the minerals domain.