Back to the complete issue
Monday, 15 April 2019

Carbon begins construction of USD 11 bn Tahrir Petchem Complex

Carbon breaks ground on USD 11 bn Tahrir Petchem Complex: Carbon Holdings has broken ground on its USD 10.9 bn Tahrir Petrochemicals Complex (TPC) in Ain Sokhna’s economic zone, Suez Canal Authority head Mohab Mamish said in a statement. Carbon received the land last month and expects to complete the project within five years. TPC will be the biggest naphtha cracker facility in the Middle East, with an annual capacity of 3.5 mn tonnes and spanning 5.2 mn sqm. The facility is expected to help double total Egyptian exports and create upward of 25k direct and indirect jobs. Carbon had raised at least USD 5.4 bn for the project, as of last December.

Correction: 15 April 2019

An earlier version of this article mistakenly said that the USD 4.5 bn Carbon has raised for TPC included USD 1.25 bn from the Lagos-based Africa Finance Corporation and USD 3.1 bn in standby funding from Chinese lenders. 

 

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.