Egypt’s Minister of Petroleum and Mineral Resources Tarek el-Malla witnessed on Wednesday the signing of a co-operation agreement between his ministry and the Saudi Arabian Oil Company Aramco as part of a plan to establish a petrochemical complex in the Suez Canal Development Axis.
The signing of the agreement came within activities of Egypt Petroleum Show (EGYPS) that open here on Monday.
The complex is affiliated to Egypt Petrochemicals Holding Company (ECHEM) and aims to produce a range of petrochemical products and natural gas derivatives to provide essential raw material for petrochemical industries.
The agreement is part of sustained fruitful co-operation between the oil sector and Armco that attests to deeply rooted ties binding Egypt and Saudi Arabia.
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