Egypt plans $5-bn petrochem complex in New Alamein industrial zone
07 Sep '21
1 min read
Pic: Shutterstock
Egypt is planning to build a $5-billion petrochemical complex in the New Alamein industrial zone, said minister of petroleum and mineral resources Tarek El-Molla, who foresees an oil surplus of up to $500 million this year. The development is part of the Saudi plan to build many large projects to reach self-sufficiency in petrochemicals by 2023 end.
The ministry aims at delivering gas to around 7 million housing units during the next three years at a rate of 1.2 million housing units annually within the approved national plan, according to an Egyptian newspaper report.
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