Cairo – Mubasher: Egypt’s petroleum ministry is conducting a feasibility study for the construction of a petrochemical and refinery complex in New Alamein city at an estimated cost of $8.5 billion.
A programme for expanding petrochemical projects and meeting the local market’s growing demand for these vital products is being implemented, petroleum minister Tarek El-Molla said in a statement on Monday.
The petroleum sector is executing a full-fledged plan as part of the development programme to enhance petrochemical industries and promote investments in this field, El-Molla added.
Natural gas discoveries and development projects boost the Egyptian petrochemical industries, attract investments, and offer direct and indirect jobs, he highlighted.
For his part, chairman of the Egyptian Petrochemicals Holding Company (ECHEM) Saad Helal said that the New Alamein complex is set to produce approximately 1.5 million tonnes of petrochemicals and around 1.9 million tonnes of petroleum products.
