{"id":660934,"date":"2025-02-19T00:00:00","date_gmt":"2025-02-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/19\/shard-capital-alqahtani-holding-ink-framework-agreement-for-usd-7-bn-petrochemical-complex\/"},"modified":"2025-02-19T00:00:00","modified_gmt":"2025-02-19T00:00:00","slug":"shard-capital-alqahtani-holding-ink-framework-agreement-for-usd-7-bn-petrochemical-complex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/02\/19\/shard-capital-alqahtani-holding-ink-framework-agreement-for-usd-7-bn-petrochemical-complex\/","title":{"rendered":"Shard Capital, Alqahtani Holding ink framework agreement for USD 7 bn petrochemical complex"},"content":{"rendered":"

Good afte<\/strong>rnoon folks<\/strong>, it\u2019s the last day of the Egypt Energy Show and the energy news is still flowing.<\/p>\n

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THE BIG STORY TODAY<\/p>\n

Shard Capital and <\/strong>Al<\/strong>qahtani Holding inked a framework agreement for a USD 7 bn New<\/strong> Alamein petrochemical complex <\/strong>with the investment and oil ministries, the Oil Ministry said in a statement<\/a>. The British and the Saudi company will both develop the private-sector ked project that is backed by British, Emirati, and Saudi investors, Shard\u2019s legal advisor Zaki Hashem said in a separate statement<\/a>(pdf)<\/a>.<\/p>\n

Remember: <\/strong>The project has been in the works for a while now, with the state\u2019s Egyptian Petrochemicals Holding Company inking an agreement<\/a> with a British consortium that included Shard Capital to develop the complex back in 2020 \u2014 which was valued at USD 8.5 bn back then.<\/p>\n

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THE BIG STORY ABROAD<\/p>\n

Ukraine, Russia, and \u2014 as always seems to be the case \u2014 Donald Trump are leading the<\/strong> world\u2019s digital front pages this afternoon<\/strong>, with Ukrainian President Volodymyr Zelensky pushing back on Trump\u2019s claim that it was his country that started the nearly three-year-old war. Zelensky called for \u201cmore truth\u201d \u2014 a tall order it seems in 2025 \u2014 and opposed Trump\u2019s push to force Ukraine to accept severe concessions in any peace agreement inked with Russia. <\/p>\n

Much of the world\u2019s press is leading with how Trump\u2019s shift in policy represents an<\/strong> upending of decades-old Russia policy<\/strong>, with the newly minted president\u2019s actions not just in stark contrast to his predecessor, but every president and major ally in modern history. The significance in the change of policy for the EU, Nato, and the US\u2019 position in the world is still yet to be seen, experts are keen to remind us \u2014 and we\u2019re only one month into his 38-month presidency. (New York Times<\/a> | Reuters<\/a> | Financial Times<\/a> | Guardian<\/a> | Sky News<\/a> | NBC<\/a>)<\/p>\n

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