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Wednesday, 24 August 2022

Four global firms in the running to build Anchorage’s USD 2 bn petchem complex

Anchorage Investments has shortlisted four international firms to build its USD 2 bn petrochemical complex in the Suez Canal Economic Zone (SCZone), according to a company statement (pdf). Hyundai Engineering and Construction, Samsung Engineering, Technip Energies, and Technicas Reunidas made the final round of the tender launched in mid-March for the Anchor Benitoite project. Anchorage didn’t specify when it will announce its final choice of contractor.

Arab Developers Holding (ADH) has tapped Solid Capital as a financial advisor ahead of the possible IPO of one of its subsidiaries according to a regulatory filing (pdf) earlier this week. The developer formerly known as Porto Group has been looking into a potential listing on the EGX since November, according to Amwal Al Ghad. Company representatives we reached out to for more information on the IPO plans did not respond by dispatch time this morning.

Other things we’re keeping an eye on this morning:

  • Fortescue Future Industries will conduct feasibility studies on its proposed green hydrogen plant after signing an MoU with the Sovereign Fund of Egypt, the SCZone, the Egyptian Electricity Transmission Company and the New and Renewable Energy Authority. (Statement)
  • USAID is providing us with USD 9 mn in fresh financing to support Egypt’s covid-19 response, and to ensure that “vaccines get to where they are needed most.” (Statement)
  • The UN Development Programme (UNDP) in Egypt signed an MoU with Savola Foods to help the latter plant climate-resilient crops like millet, quinoa and sorghum. (Statement)

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