Four Int. firms shortlisted for $2 billion petrochemical complex in Egypt

Anchorage Investments announced on Tuesday that four international companies have been shortlisted for the second phase of Anchor Benitoite project’s $2 billion tender, a project that will be established in Egypt’s Suez Canal Economic Zone (SCZone).

The four firms including Hyundai Engineering & Construction, Samsung Engineering, Technip Energies, and Tecnicas Reunidas, which have chosen for engineering, procurement, and construction (EPC) tender.

Anchor Benitoite project aims to contribute to Egypt’s GDP and increase its chemical exports and foreign direct investments.

The project scheduled to operate within three years after the Front-End Engineering Design (FEED) phase.

The second phase of the tender will select the general contractor who will undertake the implementation and completion of the activities and procedures necessary for the initial engineering and design phase.

In addition to that, the contractor will responsible for supplying all equipment and devices for the project, site preparation and engineering, procurement and construction works.

Anchorage Investments is keen to make project a flagship project that meets international standards and delivers for investors who are looking to strengthen their existence in Egypt, Ahmed Moharram founder of Anchorage.

The project also aligns with the state’s plan to expand the ownership base and encourage direct investment.

The Sovereign Fund of Egypt’s strategy plans to attract Arab and foreign investors.