A report recently published by Egypt’s Ministry of Petroleum revealed that Egypt intends to establish 14 new petrol plants, at the cost of an estimated $10 billion, over the next two decades.
The report also stated that these plants would result in an estimated $7 billion in yearly profits, making Egypt one of the largest petrochemical producers worldwide, reported Kuwait News.
Furthermore, it added that Egypt currently possesses all necessary conditions for taking on such an endeavor, including location, political stability, and natural
Moreover, a $1.4 billion agreement was recently signed between Egypt and Saudi Arabian investors to set up a petrochemical facility north of the Suez Canal. –(Mena Report)
© 2001 Mena Report (www.menareport.com)
