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Projects Monitor 
Covering major construction projects in the Middle East
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 Updated: 16Jan12
 
EHC - Ain Sokhna Petrochemical Complex - Naphtha Cracker
Country : Egypt
Project Value : N/A
Sector : Petrochemicals | Olefins & Aromatics
Contractor : Jv of SK Engineering and Construction and Shaw Group (EPC)
Profile Type :  Contract Project
Associated Projects : Contract (4)
Phase:
EPC - Execution
Completion: 2017
 
 
Owner : Egypt Hydrocarbon Corporation
Shareholders : Carbon Holdings - Egypt
Location :
Suez, Egypt
Contract Type : EPC - Engineering, Procurement, Construction
Facility Type : Naphtha Cracker
Capacity : 1,350 t/d of ethylene
Background Egypt Hydrocarbon CompanyEgypt Hydrocarbon CompanyLoading... (EHC) plans to construct a naphtha cracker in Ain Sokhna, Suez.

This package is part of Ain El Sokhna petrochemicals complex project.
Expected Events
Schedule Contract Phase/Phase Description
Q4 2012 EPCConstruction expected to start
2017 CompletionProject expected to be completed
Latest Events In January 2012, engineering works started.

In Q3 2012, construction of the cracker expected to start.

In 2017, the project is expected to be completed.
Previous Events In September 2011, the EPC contract was awarded to the JV of SK Engineering and ConstructionSK Engineering and ConstructionLoading... and Shaw Group.
Scope of Work Construction of a 1,350 t/d naphtha cracker along with associated facilities.
Financing Source HSBCHSBCLoading... is the financial advisor for the Olefins Complex. The Royal Bank of ScotlandRoyal Bank of ScotlandLoading... is the financial adviser for the Ammonium Nitrate Plant.

In 2011/2012, financing for the polyethylene package, naphtha cracker and methanol packages is expected to be finalized.

In November 2010, financing of the ammonium nitrate plant project was finalized after securing USD 298 million. Ahli United Bank of Egypt and BahrainAhli United Bank of Egypt and BahrainLoading... are the lead arrangers, Banque MisrBanque MisrLoading... is the Security Agent and Commercial International Bank is the Facility Agent.

US Exim might provide a guarantee for the USD 1.5bn debt for the development of the project.
Contract Packages
Type Project Name Contract Value
EHC - Ain Sokhna Petrochemical Complex USD 2,500,000,000
EHC - Ain Sokhna Petrochemical Complex - Ammonia Plant -
EHC - Ain Sokhna Petrochemical Complex - Ammonium Nitrate Plant USD 454,000,000
EHC - Ain Sokhna Petrochemical Complex - Methanol Plant -
EHC - Ain Sokhna Petrochemical Complex - Polyethylene Plant -

Project Schedule

ScheduleContract Phase/PhaseDescription
Sep 2011 EPCContract awarded to the JV of SK Engineering and ConstructionSK Engineering and ConstructionLoading... and Shaw Group
Jan 2012 EPCEngineering works started
Q4 2012 EPCConstruction expected to start
2017 CompletionProject expected to be completed
 
Egypt Hydrocarbon Corporation
Owner 
Egypt
Tel: +20 2-2461-2000
 
Jv of SK Engineering and Construction and Shaw Group
Contractor - EPC
Shaw Group
2300 Yonge St, Toronto, Canada
Tel: +416 932-4400 | Fax: +416 932-4380 | Website: http://www.shawgrp.com
  • Name: Lou Pucher
    Position: President
SK Engineering and Construction
SK Sunhwa Building, Sunnhwa-dong Jung-gu, Seoul 66, South Korea
Tel: +82 2-3700-7114 | Fax: +82 2-3700-8200 | Website: http://www.skec.com/
  • Name: Hyundoo Lee
    Position: Project Manager
    Tel: +82 2-3700-7114 ext:2034
    Email hyunlee245@sk.com
 
Carbon Holdings
Shareholder 
Egypt
Tel: +206 2339-7777
  • Name: Safaa Atef
    Position: Assistant General Manager
    Tel: +206 2339-7811
  • Name: Sabri Al Sanadidi
    Position: General Manager
    Tel: +206 2339-7701
Key:    Master Project    Package Project    Contract Project
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