Orientals Group to launch EGP 900 mn petrochemical project in Port Said

Orientals Group is planning to launch a EGP 900 mn petrochemical manufacturing project in Port Said in cooperation with local oil companies and unnamed Arab and Western investors, Al Masry Al Youm reports. Orientals Group will command a 25% stake in the project, while the remainder will be distributed among other investors, according to Orientals Group Chairman Mohamed Farid Khamis. Feasibility and financial studies are currently in their final stages, with the group hoping to break ground on the project within four months’ time, Khamis said.