Egypt to establish the largest petrochemical complex in middle east
Cairo, July 1, 2018, (AltAfrica) – Egypt government to sign on Saturday a contract to establish the largest petrochemical complex in the Middle East.
Head of the General Authority for Suez Canal Economic Zone (SCZone) Mohab Mamish (representing the government) is to sign the contract with the CEO of Carbon Holdings, the local company that would build the complex.
In a statement, the government said the Tahrir petrochemical project is expected to cost around US$10.9 billion and will be built on a 5 million square meters of land in the Suez Canal economic zone. The government announced that this complex will create 48,000 job opportunities.
“The project is funded by international institutions to comply with the petrochemicals strategy and represents an added value to the Egyptian industrial sector,” the statement read.