The Minister highlighted the ongoing efforts to encourage investment in the fields of petroleum, gas, and petrochemicals to maximize the utilization of Egypt’s infrastructure.
Egypt explores the English Shard Capital company’s proposal to establish a petrochemical complex in the New Alamein Industrial Zone, with an estimated investment cost of $7 billion, according to a statement issued by the Ministry of Petroleum and Mineral Resources.
This came during the meeting between Minister of Petroleum and Mineral Resources, Karim Bawdi, and Representatives of the company.
During the meeting, Badawi stressed the Ministry’s support for projects to maximize the added value from Egypt’s oil and gas resources, especially the petrochemical industry, as a main tributary to increasing production in the Egyptian economy.
The Minister highlighted the ongoing efforts to encourage investment in the fields of petroleum, gas, and petrochemicals to maximize the utilization of Egypt’s infrastructure.
During the meeting, Badwi emphasized the importance of integration in implementing value-added projects with the existing infrastructure and facilities owned by the petroleum sector companies.
He also discussed studying how to utilize them to provide the necessary raw materials and production inputs for the projects, as well as directing a portion of their production to foreign markets in the future, representing competitive advantages for new projects.
