A historical investment alliance to create the first Petrochemical complex in the new Alamein

An investment alliance announced the signing of a framework agreement with the ministries of oil and investment to establish an advanced petrochemical complex in the industrial zone in the new city of El Alamein. The coalition includes the company “Shard Capital Partners LLP” in cooperation with the UAE Royal Partners and Al -Qahtani Group. Sharad Capital Partners LLP holds preliminary discussions with Orascom Construction and Industry to develop, build and operate the complex supply area (OSBL), according to the construction, ownership and operation model (BOO).
The project investments are estimated at about $ 7 billion. The project provides 20,000 job opportunities during the construction phase and 3 thousand jobs after operation, which contributes to supporting the local economy and enhancing Egyptian competencies in the petrochemical sector. The project will also enhance the strategic ties between Egypt, the Gulf states and the United Kingdom, which contributes to achieving sustainable development and enhancing the competitiveness of the Egyptian industry globally.
The project aims to create an integrated complex to produce about 3.1 million tons annually of eight specialized petrochemical material The latest global technology to ensure the highest production efficiency, the highest transformation rate for raw oil to final products High value, as well as it enhances Egypt’s export capacity in the petrochemical sector. The complex will play a decisive role in Egyptian economic growth and competitiveness in the global market.
The complex uses the latest American and European technologies, as the complex relies on technologies provided by Hanny Technological Company, and other leading companies globally, to ensure the maximum efficiency and sustainability, and reduce carbon’s losses and emissions.
“The signing of the agreement represents a historic moment in the march of Shard Capital Partners, and reflects our deep commitment to contribute to the development of the petrochemical sector in Egypt. We are proud to be part of this ambitious project that will constitute a turning point in the industry, Thanks to its dependence on the latest American and European technologies, ensuring the highest efficiency in converting raw materials To specialized petrochemical, with the maximum revenues of the complex and Egypt.
He added: “We are committed to applying the highest standards of environmental sustainability and reducing carbon emissions, and we are currently working with our partners in the United States to study the feasibility of blue hydrogen production as a step towards a more sustainable future.”
Toby Renkook, CEO of Shard Capital Partners, concluded: “Thanks to the close cooperation with our distinguished partners in the United Arab Emirates and the Kingdom of Saudi Arabia, in addition to supporting the Egyptian government, this complex will contribute to strengthening the industrial capabilities of Egypt, opening new horizons for export, and creating Wide job opportunities, which will push the wheel of economic development in the region, and our legal team is from the Zaki office Hashem, lawyers, headed by Professor Yasser Hashem, the executive partner and with the help of Professor Nour Osama, his lawyer in the office, had a pivotal role in our delivery to this stage, and he deserves our sincere gratitude as well. Wide, which contributes to advancing economic development in the region. “