Egypt's Ministry of Petroleum and Ministry of Investment have signed a Framework Agreement with Shard Capital Partners LLP, Royal Strategic Partners (UAE), and Al-Qahtani Group (Saudi Arabia) to develop a $7 billion petrochemical complex in New Alamein City's industrial zone.
The project is expected to create 20,000 construction jobs and 3,000 permanent positions. It will produce approximately 3.1 million tons annually of eight specialized petrochemical products, utilizing crude oil as feedstock. The complex will include a refinery and a mixed steam cracker unit, employing advanced American and European technologies to maximize production efficiency and reduce emissions.
Egypt to Develop $7 Billion Petrochemical Complex with International Partners
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