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Egypt plans $4bln petrochemical complex in Suez: minister

Construction equipment is seen as container ships cross the Gulf of Suez towards the Red Sea before entering the Suez Canal, in El Ain El Sokhna in Suez, east of Cairo, Egypt April 24, 2017.

Construction equipment is seen as container ships cross the Gulf of Suez towards the Red Sea before entering the Suez Canal, in El Ain El Sokhna in Suez, east of Cairo, Egypt April 24, 2017.

REUTERS/Amr Abdallah Dalsh

16 July 2017
By Ahmed Fayez 

Egypt is planning to establish a petrochemical complex in Suez, with an investment cost worth more than $4 billion, Petroleum Minister Tarek el-Molla said Thursday.

The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, el-Molla added in a press conference.

The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.

The Japanese manufacturer Toyota will be in charge of the industrial technologies needed for the complex, he added.

The feasibility studies on the complex will take 28 weeks, the minister stated.
The complex is set to depend on the refineries affiliated to the petroleum sector in Suez governorate.

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© Amwal Alghad 2017
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