Egypt’s Carbon Holdings awards $1.7bn in deals for petchem complex
Egyptian trade and industry ministry has said privately-held Carbon Holdings will be cooperating with Italy’s Maire Tecnimont and Holland’s Archirodon in an investment deal worth $1.7bn, Ahram has reported. Carbon Holdings agreed with the construction companies to take up services and utilities schemes in its ambitious Tahrir Petrochemicals complex project. Located in Ain Al-Sokhna near the Suez Canal, the $4.8bn Tahrir complex is planned to produce annually 1.36 million tonnes of ethylene and polyethylene, which are used in packaging, detergents and electronics. Construction on the project is expected to start by the first quarter of 2015 and should last 46 months before the initiation of a six-month long testing phase, the ministry said.