UK’s Shard Capital eyes establishing $7B petrochemical complex in New Alamein

Updated 8/1/2024 11:36:00 AM
UK’s Shard Capital eyes establishing $7B petrochemical complex in New Alamein

Arab Finance: UK-based Shard Capital has proposed to establish a petrochemical complex in the industrial zone of New Alamein, with an investment estimated at $7 billion, Ministry of Petroleum and Mineral Resources Karim Badawi announced in a meeting with the company’s representatives.

This proposed complex is a key project under the national strategy to increase petrochemical production.

Badawi emphasized the ministry's dedication to maximizing the value of Egypt's oil and gas resources, particularly through the petrochemical industry, which plays a crucial role in boosting the country's production capacity.

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