China’s Asia-Potash International Investment (Guangzhou) Co., Ltd, which specializes in potassium mining and the development of modern agriculture, is planning a significant investment in Tunisia, the Foreign Investment Promotion Agency (FIPA) announced on Friday.
At a meeting on Thursday with FIPA Managing Director Jalel Tebib, the vice-president of the Industrial Development Department, Yu Baolei, and the listed company’s mining development investment director, Humeng Fei, confirmed their intention to develop projects in Tunisia, notably in the phosphate sector in the Kef governorate. An industrial mining complex would also be built as part of this investment.
Company officials announced that, in the first phase, the company plans to extract one million tonnes of phosphate, with the aim of reaching eight million tonnes in the medium term. Total investment is expected to amount to 800 million US dollars.
For his part, Jalel Tebib reaffirmed FIPA-Tunisia’s commitment to supporting foreign investors. He assured the audience that the agency would provide all the necessary resources to facilitate the process of setting up a business in Tunisia.
TunisianMonitorOnline (NejiMed)
