The Main Development Company For Suez Canal Economic Zone (SCEZone) and Abu Qir Fertilisers and Chemicals Industries Company (ABUK) signed on Tuesday a contract for establishing a complex for the Suez Methanol Derivatives Company SMD.
The new project will be the biggest integrated industrial complex for producing methanol, ammonia and their derivatives at the Ain Sukhna industrial zone.
Engineer Yehya Zaki, head of SCEZone said the project is part of efforts to achieve the zone’s 2020-2025 strategy which focusses on supporting limited industries including petrochemical industrial projects.
A statement issued by the SCEZone said the project will be established on 2 million square meters and will have a storage area of 5,000 metres to achieve the needed integration in the industrial zone and the port at total costs of $2.6 billion to be carried out in two phases.
The project is expected to create 1,200 new direct and indirect job opportunities.
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