$11bn Egypt Petchems Project Belatedly Green Lighted

Egypt’s $10.9bn Tahrir petrochemicals project at the southern end of the Suez Canal has been officially launched. Exports could fetch up to $8bn/year, but not until 2023.

Egyptian private firm Carbon Holdings has signed 48 agreements and contracts to officially launch the long-planned Tahrir petrochemicals project, to be built in the Suez Canal Economic Zone at Ain Sukhna at an estimated cost of $10.9bn.

Among the key deals were engineering, procurement and construction (EPC) contracts with Germany’s Linde, US firm Bechtel, Dutch firm Archirodon, Italy’s Tecnimont, Egypt’s Hassan Allam and Athens-based Consolidated Contractors, and land and port agreements with the Red Sea Port Authority.

Carbon Holdings chairman and CEO Basil El-Baz says “we have just made crucial progress towards the establishment of Tahrir Petrochemicals Corporation (TPC) as the centerpiece of a new, global-caliber manufacturing hub… TPC will both drive industrial development and lead export growth.”


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