EGYPT: Carbon Holdings eyes UAE government for investment in Tahrir PC complex

Carbon Holdings has announced plans to build a complex in Ain Sokhna, Egypt, that will include the production of 1.36-million t/y of ethylene and three 450,000-t/y polyethylene plants. The current reports noted that polypropylene, butadiene and gasoline will also be part of the product slate. Completion is expected at the end of 2019.

Basil El-Baz, chairman and managing director of Carbon Holdings, has said 65 % of the USD 7-billion project will be financed by bank loans, with the remaining 35 % to be financed by the company or foreign government funds.

Source: Weekly "PetroChemical News", Durham, NC, USA; 3 Nov 2014
(Syed Rashid Ali, Karachi, Pakistan)