Talks are underway between Carbon Holdings and the UAE government over a possible US$400 mln Emirati investment in the Tahrir Petrochemical Complex project, as per Daily News Egypt. As per an undisclosed government official, if the negotiations are successful, the Emirati government may also give its shares to the Egyptian government, represented by Egyptian Petrochemicals Holding Company (ECHEM). Investments in the Tahrir Petrochemical Complex are estimated to total around US$6.8 bln and that 65% of project funding will be obtained through banks, while 35% will be self-funded or from foreign-government funds, including the potential UAE contribution. Carbon Holdings hopes to begin construction by the start of 2015. Construction is expected to take 45 months.
As per a previous statement, the complex will produce 1.35 mln tons of polyethylene, 960m tonnes of polypropylene, around 400m tonnes of petrol, and 215m tonnes of butadiene.
28-Oct-14 
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