diff --git a/src/hatch/project/config.py b/src/hatch/project/config.py
index 972a2f2d6..38ffe5289 100644
--- a/src/hatch/project/config.py
+++ b/src/hatch/project/config.py
@@ -15,12 +15,15 @@
 if TYPE_CHECKING:
     from packaging.requirements import Requirement
 
+    from hatchling.utils.context import Context
+
 
 class ProjectConfig:
-    def __init__(self, root, config, plugin_manager=None):
+    def __init__(self, root, config, plugin_manager=None, metadata=None):
         self.root = root
         self.config = config
         self.plugin_manager = plugin_manager
+        self.metadata = metadata
 
         self._matrices = None
         self._env = None
@@ -34,6 +37,18 @@ def __init__(self, root, config, plugin_manager=None):
         self._publish = None
         self._scripts = None
         self._cached_env_overrides = {}
+        self._context = None
+
+    @property
+    def context(self) -> Context:
+        if self._context is None:
+            if self.metadata:
+                self._context = self.metadata.context
+            else:
+                from hatchling.utils.context import Context
+
+                self._context = Context(self.root)
+        return self._context
 
     @cached_property
     def build(self):
@@ -74,7 +89,7 @@ def env_requires_complex(self) -> list[Requirement]:
                     raise TypeError(message)
 
                 try:
-                    requires_complex.append(Requirement(entry))
+                    requires_complex.append(Requirement(self.context.format(entry)))
                 except InvalidRequirement as e:
                     message = f'Requirement #{i} in `tool.hatch.env.requires` is invalid: {e}'
                     raise ValueError(message) from None
diff --git a/src/hatch/project/core.py b/src/hatch/project/core.py
index 6f4e7d407..22dea2e38 100644
--- a/src/hatch/project/core.py
+++ b/src/hatch/project/core.py
@@ -52,7 +52,7 @@ def config(self):
         if self._config is None:
             from hatch.project.config import ProjectConfig
 
-            self._config = ProjectConfig(self.location, self.metadata.hatch.config, self.plugin_manager)
+            self._config = ProjectConfig(self.location, self.metadata.hatch.config, self.plugin_manager, self.metadata)
 
         return self._config
 
diff --git a/tests/project/test_config.py b/tests/project/test_config.py
index 1edd48d49..bc920bffa 100644
--- a/tests/project/test_config.py
+++ b/tests/project/test_config.py
@@ -91,6 +91,15 @@ def test_defined(self, isolation):
 
         assert project_config.env_requires == ['foo', 'bar', 'baz']
 
+    def test_context_formatting(self, isolation, uri_slash_prefix):
+        absolute_path = str(isolation)
+        project_config = ProjectConfig(isolation, {'env': {'requires': ['plugin@ {root:uri}']}})
+
+        normalized_path = absolute_path.replace('\\', '/')
+        assert project_config.env_requires == [
+            f'plugin@ file:{uri_slash_prefix}{normalized_path}',
+        ]
+
 
 class TestEnvCollectors:
     def test_not_table(self, isolation):