Egypt signs framework agreement to build $7-B petrochemical complex in New Alamein City
The Egyptian Ministry of Petroleum and Mineral Resources signed a framework agreement with the UK-based Shard Capital for the development of a $7-B petrochemical complex in New Alamein City, Egypt. The project will be developed in collaboration with Saudi Arabia's Al-Qahtani Group.
According to Minister of Petroleum and Mineral Resources Karim Badawi, the complex will utilize advanced technologies to ensure environmental sustainability and efficiency, adhering to the highest global environmental standards.
In addition to its economic benefits, the project is expected to contribute to community development by supporting the local population and surrounding areas. This collaboration underscores Egypt’s commitment to expanding its petrochemical sector while maintaining environmental responsibility and fostering regional economic growth.
This announcement was adapted from the Egyptian government's State Information Service: https://sis.gov.eg/Story/205064/Egypt-signs-framework-agreement-with-UK's-Shard-Capital-for-%247B-petrochemical-complex-in-New-Alamein?lang=en-us#:~:text=The%20Egyptian%20Ministry%20of%20Petroleum,Saudi%20Arabia's%20Al%2DQahtani%20Group.
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