Carbon Holdings to build USD 500 mn pier in Ain Sokhna

Carbon Holdings is set to build a USD 500 mn pier and develop an existing pier in Ain Sokhna, Red Sea Ports Authority head Hisham Abu Senna said, Al Shorouk reports. Abu Senna did not provide details on the expected timeline for construction, but noted that the authority signed off on allowing the company to use the pier as a landing point for ships bringing in raw materials for its planned USD 10.9 bn petrochemicals facility. The pier is considered “the first step” Carbon Holdings is taking towards establishing the facility, according to Abu Senna. Carbon Holdings had previously said it plans to break ground on the petrochem complex before year’s end.