General Electric (GE) and Egypt’s Carbon Holdings on 18 November announced a $500mn agreement under which the US giant will provide technology and equity for a greenfield naphtha cracker and olefins complex at Ain Sukhna, Egypt. Construction is expected to start next year with completion slated for 2019.

Carbon Holdings is leading the development of the Tahrir petrochemical complex, to be based around “the world’s largest” naphtha cracker with capacity to produce 1.35mn tons/year of (CONTINUED - 284 WORDS)