Home / Knowledge / News / Textiles / Drake & Scull signs Egyptian petrochemical project deal
Drake & Scull signs Egyptian petrochemical project deal
21
May '14
Drake & Scull International, a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, and Oil and Gas, has recently signed an agreement with Egypt-based company Carbon Holdings as part of the Tahrir Petrochemical Corporation (“TPC”) Project development located at the entrance of the Suez Canal in Ain Sokhna, Egypt.
 
Under the terms of the agreement DSI will exclusively join the international consortium of companies comprising Maire Tecnimont S.p.A., a leading world conglomerate in Engineering & Construction, Technology & Licensing and Energy and Ventures and Archirodon Group, a large diversified international contracting organization to collaboratively undertake the Engineering, Procurement, Construction and Commissioning (EPCC) activities related to the Utilities and Offsite Facilities of the project. 
 
The scope of work for DSI will encompass the complete OSBL construction works and civil works, including storage facilities and ancillary buildings for an approximate contract value of AED 2.2 billion. Egypt’s Carbon Holdings is aiming to commence construction of its $5bn-plus TPC Project in 2015.
 
TPC is seeking to secure in excess of $3.4bn of funding and loan guarantees from the Export-Import Bank of the United States, The Export-Import Bank of Korea, the Korea Insurance Corporation and the Italian Export Credit Agency, SACE.  The megaproject which includes Egypt’s first naphtha cracker will create in excess of 20,000 jobs during the construction phase, Carbon Holdings said. 
 
Once complete, the project will comprise a 4 million tonne-a-year (t/y) naphtha cracker and related downstream facilities  with the capacity to produce 1.4 million t/y polyethylene, 900,000 t/y propylene, 250,000 t/y butadiene, 350,000 t/y benzene and 100,000 t/y hexene-1. In December last year TPC signed the EPC contract for the ISBL with Linde and SK ENC.  
 
Carbon Holdings anticipates the Project will be a driving force for other petrochemical and downstream projects in Egypt and could create up to 100,000 direct and indirect jobs in related industries.


Must ReadView All

Maintain NAFTA trucking provisions: AAFA, US trade bodies

Apparel/Garments | On 22nd Nov 2017

Maintain NAFTA trucking provisions: AAFA, US trade bodies

The American Apparel & Footwear Association (AAFA) recently joined...

Vietnam’s textile & garment exports cross $24bn till Oct

Textiles | On 22nd Nov 2017

Vietnam’s textile & garment exports cross $24bn till Oct

Vietnam earned $24.372 billion from textile and garment exports in...

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Textiles | On 22nd Nov 2017

Karl Mayer unveils TMJ 4/1-T terry warp knitting machine

Karl Mayer, a technology and market leader in textile machinery from...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search