Invest International is providing a 12.7 million euros loan facility to Egyptian Salt Industry Company (ESIC) for the construction of a salt refining industrial plant that will use technology and equipment from Dutch company Titan Salt B.V. It will be the first plant in Egypt able to produce pharma-grade salt thereby contributing to reduced imports of this product.
The plant will be located in an industrial complex in Ain Soukhna, 130 kilometres west of Cairo, and will have capacity to produce 10 tons per hour of pharma-grade and food-grade vacuum salt, meaning circa 60,000 tons per annum.
Due to Titan Salt’s innovative Mechanical Vapour Recompression technology (“MVR”), the plant will use 90 percent less natural gas per ton of produced salt than conventional technologies, thereby positively contributing to SDG 13 (Climate Action).
The plant built by Titan Salt will be designed with their newest innovative technology, according to the highest European standards to provide an energy efficient and safe production facility.
“We are delighted to finance this loan as it will seek to promote Egypt’s economic growth and the creation of local jobs. Invest International’s unique role as a Dutch impact investor is putting funds to work in international projects that contribute to Sustainable Development Goals (SDGs) and contribute to the Dutch economy.”
“ESIC is really looking forward to this cooperation with Invest international and Titan Salt and to having such a distinguished high tech facility in Egypt. We know that we have the right partners for a successful project and we are proud to have them on board.”
“Titan Salt is proud and honored to have the opportunity to build a high-tech vacuum salt plant for ESIC in Egypt. The plant will be designed with our newest innovative technology and according to the highest European standards to provide an energy efficient and safe production facility. A true landmark!”
The financing of the project by Invest International will contribute to generate approximately 200 local jobs during the construction period and approximately 130 local jobs during the first year of operation, thereby contributing to SDG 8 (Decent work and economic growth).
Titan Salt is a Dutch company with offices in Bolsward and Chicago. Being an independent system provider with an in-house engineering department for process and mechanical development. The company combines two leading international salt production system suppliers: Titan Projects (Netherlands) and Titan US (Chicago) with a team consisting of engineers with decades of experience in optimizing salt plants with energy efficient equipment designs.Read more on Titan Salt