Friday, 16 April 2021 08:14 GMT

Egypt's major petchem project secures USD5.1bn from foreign banks


( MENAFN ) Egypt's major Tahrir petrochemical project is set to be partially funded by US, British, German, and Canadian banks after an agreement with Carbon Holdings.

The announcement has been made by Mahfouz Taha, President of the Suez Canal Economic Zone Authority of the Southern Region, during an interview with Amwal Al Ghad.

The chief further unveiled the four banks to be committing USD5.1 billion in finance for the construction of the USD10.9 billion complex.

A cabinet statement affirmed the complex to be the largest one within the Middle East, and was ensured to be opening 48,000 job opportunities.

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