Anchorage Investments to develop $2.5 bn petrochemical mega-project in Suez Canal
The project is expected to help increase the annual domestic production by 812 thousand tons and create more than 2,500 new jobs in the sector. Egypt’s new investment law provides legislation and guarantees that encourage foreign investments. Anchorage Investments, a company specializing in the development, investment and operation of industrial projects in the petrochemical sector, […]
Petroleum Ministry to establish a new $1.6 bn methanol plant in Ain Sokhna
The Oil Ministry has formed a new state-owned petrochemicals company that will join Methanex in producing methanol in Egypt. A shareholder agreement has been signed establishing Misr Methanol and Petrochemicals, which will manufacture methanol, ammonia, and other petrochemicals, the Oil Ministry announced in a statement. Around USD 1.6 bn will be invested in the first phase of Misr […]
Bechtel inks two agreements for Ain Sokhna’s $7.5 bn petchem complex
Bechtel to lead design + construction of Africa’s largest petrochemicals 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 the […]
Egypt signs agreement for major petrochemical plant in Ain Sokhna
Egypt launches $7.5bn petrochemical plant in Ain Sokhna: Egypt has signed an agreement for a major petrochemical plant in Ain Sokhna, with an investment of $7.5 billion. Egypt has signed an agreement for a major petrochemical plant in Ain Sokhna, with an investment of $7.5 billion. Egyptian Prime Minister Mostafa Madbouly attended the signing ceremony […]
Siemens Energy, Linde partner on decarbonization in petchem sector
Siemens Energy partners with Linde Engineering to accelerate decarbonization efforts in the petrochemical sector Decarbonization requires partnership; Linde Engineering and Siemens Energy will explore how renewable technologies and energy storage can be leveraged to support customers’ decarbonization initiatives. The downstream oil and gas industry is under intense pressure to improve efficiency, reduce greenhouse gas (GHG) […]
Gas investments in MENA region jump by 29% despite demand shock
The Arab Petroleum Investments Corporation’s report shows the MENA region’s committed gas investments are set to “hold steady” while planned gas investments are set to reach $126bn this year Planned gas investments in the Middle East and North Africa (MENA) in 2020 have jumped by 29% compared to last year despite the historic global demand […]
President Sisi inaugurates ERC’s new Mostorod Petrochemical Refinery
Egyptian Refinery Company’s Mostorod petrochem refinery is inaugurated: Qalaa Holdings subsidiary Egyptian Refining Company’s (ERC) USD 4.3 bn facility in Mostorod was inaugurated yesterday by President Abdel Fattah El Sisi. As the largest private sector project of its kind in Africa, the refinery will produce each year some 2.3 mn tonnes of diesel fuel and […]
Siemens signs long-term service contract with Ethydco petchem plant in Egypt
Siemens Energy provides long-term servicing for one of Africa’s largest petrochemical plants in Egypt Siemens Energy provides 10 year Preventive Service contract Underlines capabilities of Siemens Energy in supporting the petrochemical and downstream sectors Project will improve reliability and availability at the industrial complex in Egypt Siemens Energy has signed a long-term preventive maintenance contract […]
Egypt inks agreement with Bechtel for $6.7 bn petchem, refinery complex
ECHEM inks agreement with Bechtel for USD 6.7 bn petchem, refinery complex: The Egyptian Petrochemicals Holding Company (ECHEM) yesterday signed an agreement with Bechtel to establish a USD 6.7 bn petrochemical plant and refinery in the Suez Canal Economic Zone, according to an official statement. The agreement, signed on the opening day of the Egypt […]
President Sisi urges modernization of Egypt’s petrochemical industry
President Sisi urged maximizing the economic benefits of Egypt’s natural resources to serve the country’s goal to become a regional trading hub for oil and natural gas. President Abdel Fattah El Sisi urged the government to continue upgrading the petroleum sector by improving Egypt’s value-added petrochemical industry to cope with sequential changes in the global […]
