Cairo – Mubasher: Egypt's minister of petroleum and mineral resources Tarek El-Molla said Tuesday that the expected income from Al Wadi for Phosphate Industries Company is estimated at $336 million a year.

El-Molla was chairing the company’s constituent assembly, during which he said that the project’s production capacity amounts to 500,000 tonnes per year, with an estimated investment cost of $900 million.

The project provides 2,000 direct job opportunities and about 3,000 indirect job opportunities, according to a statement. The entire production will be exported overseas.