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BELGRADE (Serbia), July 21 (SeeNews) - Serbia's trade chamber said that local Elixir Group signed a Memorandum of Cooperation with Egypt’s Misr Phosphate Company (MPCO) on the joint construction of a phosphoric acid factory in Egypt for an undisclosed sum.

The two companies will conduct a feasibility study for the construction of the factory using Elixir Group technology, the Chamber of Commerce and Industry quoted the head of the Serbian group, Stanko Popovic, as saying on Tuesday.

They will also cooperate in the exploitation of phosphate ore fields in the Red Sea and exchange technologies and know-how.

SeeNews was unable to contact Elixir Group for further information on the future partnership with Misr Phosphate Company by the time of the publication of this article.

MPCO is Egypt's largest phosphate producer, holding the exploitation rights to 70% of the country's phosphate reserves, according to the chamber's statement.

Elixir Group, comprising five companies, is a leading regional producer of chemicals and mineral fertilizers, according to information on the company's website.

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