{"id":562054,"date":"2021-05-05T03:44:47","date_gmt":"2021-05-05T03:44:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/"},"modified":"2021-05-05T03:44:47","modified_gmt":"2021-05-05T03:44:47","slug":"is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/","title":{"rendered":"Is Egypt going to build two massive petrochem complexes in Ain Sokhna?"},"content":{"rendered":"

<\/a> Ain Sokhna could be getting (another) huge USD 7.5 bn petchem complex:<\/strong> 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<\/a> out last Wednesday. The 3.56 mn sqm refinery \u2014 said to be the largest of its kind in Africa and the Middle East \u2014 will produce petroleum products including polyethylene, polypropylene, polyester, and bunker fuel, among others, and comes as part of Egypt\u2019s efforts to become a regional energy hub, reducing its reliance on imported products and increasing exports.<\/p>\n

Sound familiar? This isn\u2019t Tahrir:<\/strong> The USD 11 bn Tahrir Petrochemicals Complex<\/a> (TPC) being built by Carbon Holdings in Ain Sokhna is a separate project that remains underway, Carbon\u2019s Managing Director of Corporate Finance and Investor Relations Karim Helal told us yesterday. Work on the TPC \u2014 planned to be the biggest naphtha cracker facility in the Middle East \u2014 began in 2019 and is expected to be completed in 2024. Helal declined to provide updates on the progress with TPC. Oil Ministry spokesperson Hamdy Abdel Aziz also confirmed to Enterprise that the Red Sea National Refining\u2019s facility is a separate project from TPC.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 last Wednesday. The 3.56 mn […]<\/p>\n","protected":false},"author":1,"featured_media":562055,"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":[2381,72,125],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562054","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-carbon-holdings","tag-enterpriseam","tag-investment-watch","wpautop","entry"],"acf":{"mongo_id":"ec9bd65a-8d63-4acc-8484-f12fdf5292aa","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/5\/37.jpg","photo_position":"above","related_issue":[562050],"teaser":"","voice_url":""},"yoast_head":"\nIs Egypt going to build two massive petrochem complexes in Ain Sokhna? - 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\/05\/05\/is-egypt-going-to-build-two-massive-petrochem-complexes-in-ain-sokhna\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Is Egypt going to build two massive petrochem complexes in Ain Sokhna?\" \/>\n<meta property=\"og:description\" content=\"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 last Wednesday. 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Canal Economic Zone has received a request from Russia to establish a new Russian industrial zone in Ain Sokhna, SCZone Chairman Yehia Zaki said during a meeting with PM Moustafa Madbouly at the weekend.The statement is very light on details:\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\/6\/66.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563619,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/11\/bechtel-inks-two-agreements-for-ain-sokhnas-usd-7-5-bn-petchem-complex\/","url_meta":{"origin":562054,"position":1},"title":"Bechtel inks two agreements for Ain Sokhna\u2019s USD 7.5 bn petchem complex","author":"enterpriseam admin","date":"11 July 2021","format":false,"excerpt":"Bechtel will design Africa\u2019s largest petchem complex: US construction giant Bechtel will lead the design and construction of the USD 7.5 bn petchem complex being built by the Red Sea National Refining and Petrochemicals Company in the Ain Sokhna industrial zone under two agreements signed with the Oil Ministry over\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/94.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555908,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/03\/another-petchem-complex-in-the-sczone\/","url_meta":{"origin":562054,"position":2},"title":"Another petchem complex in the SCZone","author":"enterpriseam admin","date":"3 October 2021","format":false,"excerpt":"Anchorage Investments is looking to build a USD 2.5 bn petrochemical complex in the Suez Canal Economic Zone (SCZone), according to a company statement (pdf). The company will produce a range of petrochemical products and natural gas derivatives, including propylene and polypropylene, and will look to gradually increase the number\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\/10\/27.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":562054,"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":557427,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/09\/19\/nbe-ikarus-to-invest-usd-150-mn-in-petrochemicals\/","url_meta":{"origin":562054,"position":4},"title":"NBE, Ikarus to invest USD 150 mn in petrochemicals","author":"enterpriseam admin","date":"19 September 2021","format":false,"excerpt":"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\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\/9\/251.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631443,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/19\/sczone-expects-ain-sokhna-multi-use-zone-to-reel-in-usd-60-bn-in-investments\/","url_meta":{"origin":562054,"position":5},"title":"SCZone expects Ain Sokhna multi-use zone to reel in USD 60 bn in investments","author":"enterpriseam admin","date":"19 March 2018","format":false,"excerpt":"INVESTMENT WATCH- SCZone expects investments in Ain Sokhna multi-use zone to reach USD 60 bn: The Suez Canal Economic Zone (SCZone) expects the first phase of the Ain Sokhna multi-use zone it is developing with DP World to reel in investments worth USD 60 bn, SCZone\u2019s head of investments Tarek\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562054","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562054"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562054\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562055"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562054"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562054"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}