$2.5 billion

Anchorage Investments takes lead role in petrochemicals complex in Egypt

The energy industry focused Anchorage Investments will develop a $2.5 billion industrial complex in the Suez Canal Economic Zone.

The project will produce a range of derivatives and petrochemical products, including olefin and polyolefin, used in everyday applications, ranging from automobiles, durable goods, plastic detergent and milk bottles.

The complex, which will boost Egypt’s annual chemical production by 812,000 tonnes, is expected to help increase foreign direct investment by around $790 million and create more than 2,500 new direct and indirect jobs, in addition to the estimated 5,000 jobs during construction.