GE and Carbon Holdings have signed a US$500mn technical support agreement for Tahrir Petrochemicals’ greenfield naphtha cracker and olefins complex project in Ain Sokhna, Egypt
As part of the partnership, GE and Carbon Holdings will provide equity financing and advanced technologies to the new petrochemicals complex. The technologies to be provided for the new plant will include advanced aero-derivatives gas turbines, steam turbines, generators, water filtration and desalination equipment, turbo machinery compressors and industrial solutions services.
With a capacity of 1.36mn tonnes per annum of ethylene and polyethylene, as well as significant quantities of propylene, benzene, butadiene and linear alpha olefins, the plant has been billed as the world’s largest naphtha liquid cracker, GE said.
Mounir Fakhry Abdel-Nour, minister of industry and foreign trade, said, “Egypt is focused on providing a strong and business-friendly environment for investors. In addition to facilitating easy procedures that promote industrial investment, we are also committed to bring advanced technological partnerships that can benefit our youth and all-round economic growth. The project will be a strong-value addition to our economy.”
John Rice, vice-president of GE, added that the company was committed to strengthen its presence and partnerships in Egypt.
“We are proud to support key customers with technology and capital that can accelerate productivity and address the increasing demand for infrastructure and industrial development. GE’s advanced technologies will be an ideal fit for the project, which will create new jobs for Egyptian youth and boost the manufacturing and exports sector of the country,” Rice commented.
The plant will also feature a power, water desalination and water treatment plant and the complex will add a combined cycle power plant to generate 300MW of power.
Basil El-Baz, CEO of Carbon Holdings, said, “Tahrir Petrochemicals Complex marks our vision to further strengthen the petrochemical sector of the country, and strengthen foreign direct investments. Set to generate annual revenue of US$6bn, once completed the project will strengthen the country’s overall annual exports by more than 25 per cent.”
