Petroleum Ministry to set up $4B petrochemical plant in Suez

CAIRO – 14 July 2017: Ministry of Petroleum entered in a partnership with the Ministry of Public Business Sector to establish a petrochemical plant in Suez governorate at a total cost exceeds $4 billion, the minister said Thursday.

Petroleum Minister Tarek el-Molla added in press statements that the Ministry entered into agreement with the Egyptian Petrochemicals Holding Company and another mining company to implement the project.

Moreover, the Ministry signed a protocol with the Japanese manufacturer Toyota to make a feasibility study for the industrial technology needed for the project.

Molla added in a press conference that the feasibility studies will take 28 weeks.
The Suez plant is set to depend on the refineries affiliated to the petroleum sector in Suez governorate.