CAIRO (Reuters) -Egypt’s Suez Canal Authority said on Wednesday it had signed a $2 billion strategic partnership agreement with Anchorage Investments to establish a petrochemical complex in Ain Sokhna, Egypt.
The first phase of the project aims to primarily produce polypropylene along with hydrogen.
In a later phase, estimated to cost an additional $4.5 billion, Anchorage Investments would add complementary plants to produce other petrochemicals mainly intended for exports.
The statement did not give further details on the partnership or a timeline for the project.
(Reporting by Yusri Mohamed. Editing by Andrew Heavens and Mark Potter)
