Anchorage Investments plans to develop a massive $2.5 billion petrochemicals project in the Suez Canal Economic Zone.

Petrochemical Industry to expand with 11 new projects with a total investments estimated at $19 billion, including two giant refining and petrochemical complexes at the Suez Canal economic zone.

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