Al-Mulla in Al-Arabiya: Egypt to build a huge petrochemical complex worth $ 5 billion in El Alamein

Egypt’s Minister of Oil and Mineral Resources, Tarek El-Molla, revealed that Egypt is studying a large number of large petrochemical projects, in particularly the Red Sea complex.

In an interview with Al-Arabiya, Al-Mulla indicated that the ministry It aims to supply gas to around 7 million housing units during The next three years, at the rate of 1.2 million housing units per year, as part of the approved national plan.

He talked about the studio for the construction of a huge petrochemical complex in New Alamein with investments of 5 billion dollars, in the industrial area, in El Alamein. AND in coordination with the best offers, the contract has not been completed and the port of Hamra will be the entry point for the import and export requirements for this project.

He said Egypt plans to achieve self-sufficiency in petrochemicals by the end of 2023, explaining that this ambitious goal will be influential because this industry is involved. in various sectors of the economy.

He indicated expectations of an oil surplus of up to $ 500 million quest’year.

A project to produce wood from rice straw was also expected to open in the middle of next year, and the project would help rid the environment of the negative effects of burning rice straw.

Read More About: Business News

Follow AsumeTech on

More From Category

More Stories Today

Leave a Reply