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Signing contract of biggest petrochemicals complex in the Middle East at SCZ

Vice admiral/ Mameesh: the complex is established at Sukhna Zone with investments 10.3 milliard dollars and on an area 5 million square meters.

Petroleum Minister, Tarek ElMolla: the project reflects foreign investor trust in Egyptian economy and participates in exports’ increase.

Basel ElBaz: a remarkable positive leap in industrial development course in Egypt.  

Providing 20 thousand work opportunity during establishment and 3 thousand work opportunity during operation  

 

 

Vice admiral/ Mohab Mameesh, head of Suez Canal authority and of SC Economic Zone and Eng. Basel ElBaZ, head of board of directors of Carbon Co. have signed contract of biggest Petrochemicals complex in the Middle East at Suez Canal (SC )Economic Zone at Sukhna with investments 10.9 milliard dollars (200 milliard Egyptian pounds) and on an area reaching 5 million square meters.

 Mameesh has announced that Carbon project for the establishment of ElTahrir complex for petrochemicals is the greatest project for petrochemicals in the Middle East with variant foreign investments that represent a real return of foreign investments and international financing in Egyptian projects.  

 

From his side, Eng. ElMolla, petroleum minister has announced that the ministry sets on top of its list its strategy glorifying added value of petroleum wealth through petrochemicals projects which are considered development trailer and that Egypt has all required qualifications for the establishment of a strong distinguished petrochemicals’ industry.

 

  On the other hand, Eng. ElBaz, head of board of directors of Carbon holding company   said that ElTahrir complex will participate in achieving a remarkable positive leap in industrial development in Egypt  and will have its  direct impact on Egyptian  exports development,  in addition  the project  includes a workers’ training center with investments reaching 50 million dollars

  Again admiral/ Mahfouz Taha, deputy head of South region of the Economic Zone said that this project is of a special importance represented in the existence of international financing corporations amongst which American exports and imports bank and overseas private Investment Corporation, also Canadian exports development bank, and pointing out that such banks are governmental entities and participate in financing such giant project  without guarantees or mortgages  on quota of participants of Egyptian corporations, in addition  the project  provides with 3thousand job opportunity  in the stage of operation and 20 thousand  job opportunity  during establishment stage.  

 

 Worth noting that such project has a special importance as it will result in a handling volume during operation about 14 milliard dollars annually and exports reaching 8 milliard dollars annually; participating  in total Egypt exports increase.  

 

In addition to what the project provide of job opportunities reaching 20 thousand during establishment and 3 thousand job opportunities during operation in addition to 25 thousand indirect job opportunities in the field of services and support, also usage of 100% of the project’s products as crude substances to be converted to other products, hence participating in providing more than 200 thousand job opportunity.    

 

 

 

 

 

 

 

 


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