GE to provide technologies in Egypt for greenfield petrochemicals project
GE and Carbon Holdings signed a $500 million agreement to provide technology and equity support to Tahrir Petrochemicals' greenfield naphtha cracker and olefins complex project in Ain Sokhna, Egypt.
As part of the partnership, GE will provide equity financing and advanced technologies to the new petrochemicals complex. This is part of an integrated package of solutions to meet the needs of the country. The technologies to be provided for the new plant include advanced aeroderivatives gas turbines, steam turbines, generators, water filtration and desalination equipment, turbomachinery compressors and industrial solutions services.
Basil El-Baz, Chairman and CEO of Carbon Holdings, said, "Tahrir Petrochemicals Complex marks our vision to further strengthen the petrochemical sector of the country, and strengthen foreign direct investments. Developed through global partnerships, the new plant will contribute to the socioeconomic growth of Egypt, bringing the newest technologies for greater energy sector efficiencies and creating new jobs. During the construction phase, the project will employ over 20,000 professionals and skilled workers in addition to creating several thousands more indirect jobs. It will also add another 3,000 high-skilled jobs for engineers and technicians. Set to generate annual revenue of $6 billion, once completed, the project will strengthen the countrys overall annual exports by over 25%."
The new plant has the potential to drive overall growth of the Egyptian economy with its products having a strong impact on the construction and manufacturing sectorstwo key contributors to the national economy. In addition to direct jobs at the plant, the local availability of the plants products will contribute to energizing ancillary industries, thereby creating thousands of indirect jobs.
propylene, benzene, butadiene and linear alpha olefins, the plant is billed as the worlds largest naphtha liquid cracker.
Featuring a power, water desalination and water treatment plant, the complex will employ a combined-cycle power plant to generate 300 MW of power. The full-fledged water desalination plant, featuring GEs ultrafiltration and reverse osmosis technology, has a generation capacity of 3,800 cubic meters per hour.
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