Construction of the Tahrir Petrochemical Complex, a project that will take up between USD1.7 billion and 1.95 billion from Morocco exchequer, is set to begin in 2015. Carbon Holdings entered into an agreement on March 2014 to provide Engineering, Procurement, Construction and Commissioning (EPCC) activities for the Ain Sokhna-based project.
The project will, upon completion, comprise of a 4 million tonne-a-year naphtha cracker and facilities for producing benzene (350,000tpa), hexene-1 (100,000tpa), and propylene (900,000tpa). It will also produce 900,000tpa of butadiene and 1.4 million tonnes of Ethylene per year.
Commissioning of the project is expected in 2019. Among the providers of the funds for construction includes Export-Import Bank of the United States, Italian Export Credit Agency (SACE), the Export-Import Bank of Korea, and the Korea Insurance Corporation.
The 4 million tonne-a-year naphtha cracker is the biggest of its kind in the world and the first in the country. The Petrochemical project is expected to raise Egypt’s annual exports to over 25%, create about 20,000 new jobs and reinforce Egypt’s manufacturing sector. 50% of the project funds pertain to Milan-based Maire Tecnimont Group. The project is expected to boost foreign direct investments for the country.
Dubai-based Drake & Scull International has already won a $596 million contract with Carbon Holdings to facilitate construction works and civil works. The company will see construction of storage facilities and related buildings.
Among other facilities at the plant include 3,800m³ph capacity sea water desalination system, a nitric unit, and a 1,060tpd-capacity single-train ammonium nitrate process plant.