Egyptian Prime Minister Ibrahim Mahleb attended the signing of a Memorandum of Understanding (MoU) and Confidentiality Agreement on the 15 February 2015, between the Egyptian Petrochemicals Holding Company (ECHEM) and Egypt Kuwait Holding (EKH), ٍSaudi International Petrochemical Company (Sipchem), Bawabet Al Kuwait Holding Company, and Boubyan Petrochemical Company (BPC).
The companies have agreed to invest in the following four projects:
(1) A propylene and propylene derivatives complex,
(2) A refining and petrochemicals complex,
(3) A formaldehyde and formaldehyde derivatives complex,
(4) A phosphate fertilizers complex
These projects aim to alleviate some of the problems that companies operating in Egypt’s petrochemicals and fertilizers sectors.
Additionally, the projects are expected to provide a total of 28,000 direct and indirect job opportunities.
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