Cairo- Egyptian Prime Minister Moustafa Madbouli witnessed Wednesday the signing of a contract to build the largest petrochemical complex in Sokhna industrial zone, with investments amounting to 7.5 billion US dollars.
The contract comes as part of the Egyptian state’s plan to meet the needs of the local market of petrochemical products. It was signed between the Major Development Company of Suez Canal Economic Zone and Red Sea
Refining & Petrochemicals Co..
The industrial complex aims at refining and producing a set of value-added petroleum and chemical products, such as polyethylene, polypropylene, polyester, bunker fuel and other petroleum and chemical products. The project is built on an area of 3.56 million square meters.
The purpose of this industrial complex is to achieve high added value in this industry and to meet the needs of the local market of petrochemical products.
For his part, Minister of Petroleum Tarek el-Mulla affirmed that this ambitious project is one of the pillars of the Ministry of Petroleum and Mineral Resources strategy to develop the refining and petrochemical industry in Egypt, and that it is the first and largest of its kind in Africa and the Middle East.
