Prime Minister, Mostafa Madbouly, has put the cornerstone of the first petrochemical industrial complex at the Suez Canal economic zone (SCZONE) in Ain El Sukhna at a cost of $7.5 billion as a part of the Egyptian plan to meet the domestic market need of petroleum and chemical products.

Prime Minister (PM) Mostafa Madbouly toured the $450 million Sonker liquid bulk terminal, located in the third basin of Ain Sokhna Port.

Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed methods to increase cooperation in the petroleum sector between Egypt and the US with Stuart Jones, President for Regions and Corporate Affairs at Bechtel Corporation, and Jonathan Cohen, the US Ambassador to Egypt.

Prime Minister Mostafa Madbouly witnessed the signature of land allocation contract for establishing the largest refinery and petrochemical complex in Ail Al-Sokhna at the Suez Canal economic zone (SCZONE) with investments worth $7.5 billion.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, held a meeting to increase Egypt’s role as an integrated central hub for ship supply services which contribute in maximizing the added value.

The Minster of Petroleum and Resources, Tarek El Molla, has inspected the new petroleum projects in Ain Sokhna, including Sonker’s liquid bulk terminal which is located in the third basin of Al Sokhna Port and will be finalized with $235 million of investments.

The General Authority for Suez Canal Economic Zone (SCZone) and the Sinai Gas inked a deal to deliver natural gas to the industrial zone in East Port Said.