President Abdel Fattah El-Sisi held a meeting with Karim Badawi, Minister of Petroleum and Mineral Resources. During the meeting, the President emphasized the importance of petrochemical and mining projects carried out by the Ministry of Petroleum and Mineral Resources. He highlighted their significant contribution to maximizing the added value of Egypt’s natural and mineral resources, meeting local market demands, facilitating exports, and expanding related industries, as they create jobs and boost national economic returns. The President also directed that efforts to localize related industries in Egypt and attract investments to this vital sector be accelerated.

The discussion came in a broader meeting with Prime Minister Mostafa Madbouly, in presence of Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Hassan El-Khatib, Minister of Investment and Foreign Trade; and Ali Hamed, CEO of the Egyptian Environment Affairs Agency (EEAA).

During the meeting, El-Sisi followed up on the latest developments regarding the executive status of industrial projects, the provision of necessary raw materials for the industrial process, ways to secure the required funding, efforts to enter into partnerships with major specialized international companies, and plans for marketing products locally and globally.

Egypt has recently sealed several agreements in the petrochemical sector. In February, Egypt signed a framework agreement with Shard Capital, and  Saudi Arabia’s Al-Qahtani Group for the $7 billion Mediterranean Petrochemicals Complex project in New Alamein. Being Egypt’s first petrochemical complex, the project is expected to generate 20,000 construction jobs and 3,000 permanent roles. The facility, with an annual production capacity of around 3.1 million tons across eight specialized petrochemical products, will use crude oil as its main feedstock and feature a refinery and a high-conversion mixed steam cracker unit.

In April 2025, Prime Minister Mostafa Madbouly oversaw the signing of contracts for the basic design works of the first phase of the Red Sea Petrochemicals Complex in Ain Sokhna. The pivotal agreement involved the Red Sea National Petrochemicals Company, China National Chemical Engineering Group (CNCEC) Corporation, the Engineering for the Petroleum and Process Industries (ENPPI), and the Petroleum Projects and Technical Consultations Company (Petrojet).