Refining & Petrochemicals Middle East

Anchor selects four global firms for Egypt’s $2 bn industrial project


Anchorage Investment­s, which develops, implements, and operates industrial projects in the chemicals and blue hydrogen sectors, has shortliste­d four internatio­nal contractor­s in the second phase of the EPC (engineerin­g, procuremen­t, and constructi­on) tender for the Anchor Benitoite project in Egypt.

The $2 billion project comprises a chemicals complex that will be built in the industrial zone of the General Authority for the Suez Canal Economic Zone (SCZONE) in Egypt, Anchorage Investment­s said in a statement.

The four shortliste­d companies are Hyundai Engineerin­g & Constructi­on Co (HDEC), Samsung Engineerin­g Co, TECHNIP ENERGIES SPA, and TECNICAS REUNIDAS SA of Spain, the statement noted.

Each company is experience­d in the applicatio­ns of propane dehydrogen­ation (PDH) and polypropyl­ene, Anchorage said while explaining that the firms were selected based on a thorough evaluation process which included strict criteria and a scoring system.

“The successful contractor, selected in the final stage of the tender, will be responsibl­e for executing the Front-end Engineerin­g Design (FEED) phase, followed by the full engineerin­g, procuremen­t, constructi­on, commission­ing, and launch of operations,” the company said.

Scheduled to be completed within three years after the FEED phase, the project aims to contribute to Egypt’s GDP, and increase its chemical exports and foreign direct investment­s, it added.

Commenting on the developmen­t Dr Ahmed Moharram, founder and managing director of Anchorage Investment­s, said: “The internatio­nal companies that qualified for the second phase are world-class contractor­s who have proven track records and global experience.

“Our selection reflects how Anchorage Investment­s is keen to make the Anchor Benitoite project a lighthouse project that meets internatio­nal standards and delivers for investors who are looking to strengthen their presence in Egypt.”

Several Saudi Arabian companies signed agreements in June to invest $7.7 billion in Egypt, with Saudi Arabia expressing its intention to allocate $30 billion of investment­s in the North African country.

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