Elsewedy Industrial Development has signed a major agreement with Kunming Chuanjinnuo Chemical Co. (CJN) to build a phosphate chemical industries complex in Egypt. The project will be located in Sokhna 360 and involves a total investment of nearly USD 1 billion. It aims to produce fertilisers, specialty chemicals and electric vehicle battery materials. The initiative is expected to create 10,000 jobs and position Egypt as a regional hub for new energy materials.