Egypt is planning to establish a petrochemical complex in Suez, with an investment cost worth more than $4 billion, Petroleum Minister Tarek el-Molla said Thursday.
The Ministry of Petroleum will build the complex in partnership with Ministry of Public Business Sector, El-Molla added in a press conference.
The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.
The Japanese manufacturer Toyota will be in charge of the industrial technologies needed for the complex, he added.
The feasibility studies on the complex will take 28 weeks, the minister stated.
The complex is set to depend on the refineries affiliated to the petroleum sector in Suez governorate.
(Source: Thomson Reuters Zawya)