Egypt has started to construct and facilitate the largest petrochemical project in the Middle East with an investment cost of $10.8 billion, said Mohab Mamish, Chairman of the Suez Canal Authority (SCA) and the Suez Canal Economic Zone (SCZone), according to Amwal Al Ghad.
The petrochemical complex is located in the industrial zone in Ain Sokhna and is considered to be a historical leap as it is vital for supplementing many other Egyptian projects, Mamish added.
The project is set to be implemented over a period of five years and on an area of 5.2 million meter square (m2). Its production capacity is estimated to be 3.5 million tons per year, with an annual capacity of 1.3 million tons of polyethylene, 662 thousand tons of polypropylene, 414 thousand tons of benzene, 214 thousand tons of butadiene.
Egyptian President Abdel Fattah El Sisi is paying a great attention to this project, Mamish stated, adding that the upcoming period will witness great support to the project.