CAIRO, April 28 (Xinhua) -- Egypt signed a contract to build a large petrochemical complex with investments worth 7.5 billion U.S. dollars, said the Egyptian cabinet on Wednesday.

The complex will be built at the Suez Canal Economic Zone (SCZone) in Ain Sokhna of Suez province, east of Egyptian capital Cairo.

Prime Minister Mostafa Madbouly and Petroleum Minister Tarek al-Molla attended the signing ceremony of the deal. The complex will be constructed by the Red Sea National Refining and Petrochemicals Company and the SCZone's Main Development Company, according to the statement.

It will be built on an area of 3.56 million square meters as an industrial complex "for refining and producing a range of petroleum and chemical products with added value, such as polyethylene, polypropylene, polyester, bunker fuel and other petroleum and chemical products."

The project is part of Egypt's efforts to become a key energy hub in the Eastern Mediterranean region. Enditem

Related

Go to Forum >>0 Comment(s)