Carbon Holdings to reach financial close on Tahrir petrochem complex by year’s end - ENTERPRISE

Sunday, 22 April 2018

INVESTMENT WATCH- Carbon Holdings aims to reach financial close on its USD 10.6 bn Tahrir petrochemicals complex by year’s end, CEO Basil El Baz says. 

Carbon Holdings is covering 26% of the project’s cost, with the remainder set to be funded by development finance institutions from the US, Germany, and the UK. 

Tahrir Petrochemicals will be built in the Suez Canal Economic Zone and will produce petrochemicals used to make a wide range of consumer and industrial goods.

Egypt's Carbon Holdings aims to start building Tahrir petrochemicals project by June - REUTERS

AUGUST 25, 2017 / 3:40 AM
Arwa Gaballa

CAIRO (Reuters) - Egypt’s Carbon Holdings aims to finalize funding and start building its massive Tahrir petrochemicals project by June, producing raw materials desperately needed to boost the country’s industrial sector, its chief executive told Reuters.

The $10.6 billion scheme in the Suez Canal Economic Zone will be the largest petrochemicals project in Egypt. Carbon Holdings CEO Basil El-Baz sees the project helping to double Egypt’s exports within one year of coming online after its five-year construction.