Egyptian Ministry of Petroleum entered in a partnership with the Ministry of Public Business Sector to establish a petrochemical plant in Suez governorate at a total cost exceeds $4 billion, Zawya reported quoting Petroleum Minister Tarek el-Molla.
The Egyptian Petrochemicals Holding Company (ECHEM) as well as refineries affiliated to the petroleum sector will also cooperate to implement the project, the Egyptian minister said.
Molla added that the feasibility studies will take 28 weeks. The Suez plant is set to depend on the refineries affiliated to the petroleum sector in Suez governorate.
The Japanese manufacturer Toyota will
be in charge of the industrial technologies needed for the complex, he added.