Suez governor mulls establishing largest petrochemical complex in ME

SUEZ, Egypt - Suez Governor Ahmed Hamed had talks on Wednesday with a delegation from a petrochemical investment company on the establishment of the largest petrochemical complex in the Middle East in the governorate.

Former petroleum minister Osama Kamal, the project's consultant, said the 10.5 billion dollar complex will be set up in three areas in el Ein el Sokhna.

The construction of the complex will start in the first quarter of 2018 and will last for four or five years, he said.

The complex will create 3,000 direct jobs and 20,000 indirect jobs, he said.

The project is meant to cater for local market needs of petrochemical products and secure needed row materials for the current and future petrochemical projects in the Suez Canal axis in addition to exporting the surplus, Kamal said.