Diclosure outlining MoU for projects between Egypt Kuwait Holding and three other companies
On the 15 February 2015, the Egyptian Petrochemicals Holding Company (ECHEM) signed a Memorandum of Understanding (MoU) and Confidentiality Agreement with the following four companies: Egypt Kuwait Holding (EKHO), ٍ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.