Alexandria discusses investing $5B in establishing petrochemical plants

CAIRO – 19 June 2019: Governor of Alexandria Abdel Aziz Qensua announced discussing the establishment of a complex of petrochemical plants with investments of about $5 billion, alongside an existing plant with investments of $1.5 billion, bringing the total investment to $6.5 billion.

“We have succeeded in pumping huge investments in exploration and exploration for gas, and we have access to self-sufficiency.We are currently trying to achieve the added value of gas,” Qensua said.

During his speech at a business dinner organized by the Egyptian Businessmen Association on Tuesday evening, he saidto a delegation of 40 Saudi investors that Alexandria has completed the strategic plan, which includes real estate opportunities and medical cities both west and east of the governorate, as well as industrial opportunities from medium and large industries.

The governor of Alexandria praised the role of the Kingdom of Saudi Arabia in standing next to Egypt following the June 30 Revolution, which restored the spirit of the Egyptian state. He added that the countries of Egypt, Saudi Arabia and the UAE represent the pillar of stability of the Arab region in light of the current events.

Advisor to the Governor of Alexandria Esmail al-Adly presented the investment opportunities available in the governorate from residential, medical and tourism projects to the delegation of Saudi investors.