Tarek El Molla, Minister of Petroleum and Mineral Resources, received a delegation from the International Honeywell Corporation specialized in providing technical support for petroleum projects, headed by Rajeev Gautam, President and CEO of Honeywell Performance Materials and Technologies (PMT), to review steps that will be implemented in the Red Sea Petrochemical Complex project after signing a land allocation contract in Ain Sokhna, according to a press release.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, examined Sonker’s project as well as the Red Sea petrochemical complex in Ain Sokhna.

The complex is considered to be the biggest petrochemical project in the Middle East with an investment cost of $10.8 billion.

The Egyptian cabinet signed contracts on June 30 with the Cairo-based Carbon Holdings to build a $10.9 billion petrochemical complex.

Sonker Bunkering Company and DP World finalized $500 million in financing for a liquid bulk terminal at Ain Sokhna.

Petrojet completed the first module for the offshore platform at Ain Sokhna.

Egyptian Minister of Petroleum visited the liquefied natural gas (LNG) recipient platform and related facilities owned by Arab Petroleum Pipelines Company (SUMED) to follow up on the experimental work in the platform and facilities located in Ain Sokhna Port.

France's Schneider Electric was contracted to supply and install all the electrical equipment of nine factories in the phosphate fertilizers complex in Ain Sokhna. Executive works were awarded to three contractors from China, Spain, and Italy.

Egypt is expected to depend 25% on solar power by 2030, Siemens' President for Renewable Energy in Egypt and Head of Wind Power Middle East, Emad Ghaly, said.

The second Floating Storage and Regasification Unit (FSRU) arrived in the Egyptian port of Ain Sokhna, Reuters reported.