Egypt signs $6.7bn deal with Bechtel to build refining complex

The complex will be based in the Suez Canal Economic Zone

The agreement aims to build a refining and petrochemical complex in the Suez Canal Economic Zone. (Image courtesy: News coverage by Egypt Today provided by Bechtel website)
The agreement aims to build a refining and petrochemical complex in the Suez Canal Economic Zone. (Image courtesy: News coverage by Egypt Today provided by Bechtel website)

Egyptian Petrochemicals Holding Company (ECHEM) signed a cooperation agreement with American company, Bechtel Group, with an investment of $6.7bn, the Ministry of Petroleum of Egypt announced.

The agreement aims to build a refining and petrochemical complex in the Suez Canal Economic Zone (SCZone), said the ministry.
The deal stipulates that ECHEM will start preparing a detailed feasibility study in cooperation with an international consultant, reported Egypt Today.
"Bechtel Group will provide the necessary funding from banks and international financial institutions," the statement said, adding that the project is “expected to increase the productivity of petroleum and petrochemical products to cover the local market needs and to export these products.”


Egypt also signed a contract for the construction of a mazut hydrocracking complex in Assiut, the largest oil refining project to be implemented in Upper Egypt, with investment totalling $2.5bn.

The complex in Assiut aims for a production capacity of 2.8 million tonnes annually, the statement said, and the facility will also produce butane and naphtha used in the production of high-octane gasoline.

For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.

For all the latest refining and petrochemical news from the Middle East countries, follow us on Twitter and LinkedIn, like us on Facebook.

You may also like

APICORP posts $54.8mn net profit in H1-2020
Gross operating income at $144.7mn and net income at $54.8mn despite adverse global conditions
Mammoet’s heavy lifting and transport solutions for a turnaround at Saudi Aramco’s refinery
Early involvement, innovative engineering and equipment availability are key to narrow shutdown window at Riyadh refinery
Digital twins are the key to operational excellence in refineries
Digital twins are becoming commonplace in a variety of industries, including the oil and gas industry. They offer tremendous benefits to refineries, particularly in terms of asset reliability for all critical equipment types
US oil market shows right trend at a slow pace, says GlobalData
Indeed, last week’s lower supplied volumes of gasoline and lower crude demand from refiners negatively impacted WTI

MOST POPULAR