{"id":557427,"date":"2021-09-19T04:00:06","date_gmt":"2021-09-19T04:00:06","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/"},"modified":"2021-09-19T04:00:06","modified_gmt":"2021-09-19T04:00:06","slug":"nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/","title":{"rendered":"NBE, Ikarus to invest USD 150 mn in petrochemicals"},"content":{"rendered":"

<\/a> Kuwaiti energy investor <\/strong>Ikarus Petroleum Industries<\/a><\/strong> will invest around USD 150 <\/strong>mn <\/strong>in the Egyptian petchem sector<\/strong> alongside the National Bank of Egypt (NBE), according to a joint statement (pdf)<\/a> last week. NBE\u2019s investment arm Al Ahly Capital will act as the JV\u2019s direct investment manager, according to the terms of a partnership agreement signed last week. Kuwait\u2019s Ikarus Petroleum Industries is looking to increase its investments in Egypt, with a focus on petrochemicals, oil and gas, Chairman and CEO Riyad Al-Idris said.<\/p>\n

Advisors: <\/strong>Amr & Partners Law Firm was NBE\u2019s legal advisor while Al Tamimi & Company acted as Ikarus\u2019 legal advisor for the agreement.<\/p>\n

Egypt is upping its petchem production capabilities: <\/strong>The Red Sea National Refining and Petrochemicals Company signed an agreement<\/a> with the SCZone back in June to build a USD 7.5 bn petchem complex in the Ain Sokhna industrial zone. Said to be the largest of its kind in Africa and the Middle East, the petrochemical complex will produce a raft of refined oil products such as polyethylene, polyester and bunker fuel.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kuwaiti energy investor Ikarus Petroleum Industries will invest around USD 150 mn in the Egyptian petchem sector alongside the National Bank of Egypt (NBE), according to a joint statement (pdf) last week. NBE\u2019s investment arm Al Ahly Capital will act as the JV\u2019s direct investment manager, according to the terms of a partnership agreement signed […]<\/p>\n","protected":false},"author":1,"featured_media":557428,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[1935,72,125,705],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-557427","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-al-ahly-capital-holding","tag-enterpriseam","tag-investment-watch","tag-petrochemicals","wpautop","entry"],"acf":{"mongo_id":"20bd62e1-af65-498f-aa9c-37584dba41a2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/251.jpg","photo_position":"above","related_issue":[557415],"teaser":"","voice_url":""},"yoast_head":"\nNBE, Ikarus to invest USD 150 mn in petrochemicals - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"NBE, Ikarus to invest USD 150 mn in petrochemicals\" \/>\n<meta property=\"og:description\" content=\"Kuwaiti energy investor Ikarus Petroleum Industries will invest around USD 150 mn in the Egyptian petchem sector alongside the National Bank of Egypt (NBE), according to a joint statement (pdf) last week. NBE\u2019s investment arm Al Ahly Capital will act as the JV\u2019s direct investment manager, according to the terms of a partnership agreement signed […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-19T04:00:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/251.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"NBE, Ikarus to invest USD 150 mn in petrochemicals\",\"datePublished\":\"2021-09-19T04:00:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/\"},\"wordCount\":184,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/9\/251.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Al Ahly Capital Holding\",\"EnterpriseAM\",\"investment watch\",\"petrochemicals\"],\"articleSection\":[\"Investment Watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/\",\"name\":\"NBE, Ikarus to invest USD 150 mn in petrochemicals - 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PLUS: New Radisson hotel, Concrete Plus-Saudi collaboration, EgyptAir in Manchester","author":"enterpriseam admin","date":"16 July 2023","format":false,"excerpt":"The company received a one-year license to establish stations last month","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/7\/569.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562054,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/","url_meta":{"origin":557427,"position":2},"title":"Is Egypt going to build two massive petrochem complexes in Ain Sokhna?","author":"enterpriseam admin","date":"5 May 2021","format":false,"excerpt":"Ain Sokhna could be getting (another) huge USD 7.5 bn petchem complex: The Suez Canal Economic Zone has signed a USD 7.5 bn agreement with the Red Sea National Refining and Petrochemicals Company to build a petrochemical complex in the Ain Sokhna industrial zone, cabinet said in a statement out\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/37.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554156,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/sczone-signs-off-on-land-contract-for-usd-2-6-bn-methanol-plant-in-ain-sokhna\/","url_meta":{"origin":557427,"position":3},"title":"SCZone signs off on land contract for USD 2.6 bn methanol plant in Ain Sokhna","author":"enterpriseam admin","date":"22 December 2021","format":false,"excerpt":"SCZone signs off on Ain Sokhna\u2019s USD 2.6 bn methanol plant: The General Authority for the Suez Canal Economic Zone (SCZone) has signed a land use contract with a company jointly owned by Abu Qir Fertilizers, Helwan Fertilizers, and Al Ahly Capital Holding, to establish a methanol plant at Egypt's\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/448.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":641228,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/17\/usd-3-bn-petrochemicals-plant-to-begin-production-in-2021\/","url_meta":{"origin":557427,"position":4},"title":"USD 3 bn petrochemicals plant to begin production in 2021","author":"enterpriseam admin","date":"17 September 2017","format":false,"excerpt":"USD 3 bn petchem plant to begin production in 2021. 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