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FinancialNews
07-06-21
Egyptian PM sets cornerstone for 1st petrochemical complex at Suez Canal Zone
(MENAFN)The first industrial complex for petroleum and chemical materials in the economic zone is going to create a range of products, including polyethylene, polypropylene, polyester, bunker fuel and other materials.
The zone was one of Egypt’s most important national projects and part of the government’s strategy to spotlight the investments that would localize technology, create job opportunities, and increase the standard of the country’s sea ports to match global standards, stated the prime minister.
The industrial complex planned to start operations in the first six months of 2024.
Egyptian Prime Minister Mostafa Madbouly set the foundation for the first
petrochemical complex at the Suez Canal Economic Zone, backed by investment amounting at USD7.5 billion.
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