SCZONE, China’s BEFAR to set up chemicals production project in TEDA-Egypt
Updated 6/27/2024 7:25:00 AM
Arab Finance: The General Authority for the Suez Canal Economic Zone (SCZONE) has signed a framework agreement with the China-based petrochemicals firm BEFAR Group to launch a chemicals production project within TEDA-Egypt in the Sokhna industrial zone, as per a statement.
Dubbed Green Marine, the project will be implemented in three phases, the first of which will be set up on a 300,000-square-meter area with investments of $250 million.
The first phase targets producing 100,000 tons of caustic soda, 50,000 tons of hydrochloric acid, 40,000 tons of bleaching materials and decolorizing products for textiles, and 10,000 tons of bromine and its derivatives annually.
This phase is expected to create 795 job opportunities and generate annual revenues of $230 million.
Green Marine’s second phase aims to broaden the production line to include chlorine, polyether, and polyurethane products to meet the local demand of some industries, such as vehicles and building materials.
In addition, this phase will develop soda ash products needed for manufacturing high-quality glass and other industries.
As for the project’s third phase, it will focus on maximizing the use of local C2-C5 resources to develop advanced technologies for producing new chemical compounds.
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