EGYPT MULLS ESTABLISHING LARGEST PETROCHEMICAL COMPLEX IN MIDDLE EAST

CAIRO, Egypt, Egypt’s Suez Governor, Ahmed Hamed, had talks Wednesday, with a petrochemical investment firm, on the establishment of the largest petrochemical complex in the Middle East.

Former petroleum minister, Osama Kamal, the project’s consultant, said, the 10.5-billion-dollar complex, will be set up in three areas, in el Ein el Sokhna.

The construction of the complex will start in the first quarter of 2018, and will take about four or five years, he said.

The complex will create 3,000 direct jobs and 20,000 indirect jobs, he said.

The project is meant to cater for local market needs, of petrochemical products, and secure needed raw materials, for the current and future petrochemical projects, in the Suez Canal axis, in addition to exporting the surplus, Kamal said.

Source: NAM NEWS NETWORK