Egypt’s plans for a $7.5bn petrochemicals hub at Ain Sukhna at the southern end of the Suez Canal and Sumed pipeline are moving forward.

Oil minister Tarek El Molla last week said that land allocation for the 356-hectare ‘Red Sea National Refining and Petrochemicals Company’ site within the Suez Canal Development Company’s Economic Zone had been completed with a foundation stone laid. (CONTINUED - 841 WORDS)