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Egyptian- Italian JV to set up $1.7bn petrochemical plant
08 Apr '14
1 min read
Egypt's Trade, Industry and Investment Minister Mounir Abdel-Nour, on Monday 7/4/2014, signs deal with an Italian group to establish a petrochemicals plant at a total investment of $1.7 billion. Italian embassy in Cairo states that Italy-based Maire Tecnimont, in association with Archirodon Group, will establish the project with the Egypt-based Carbon Holdings in Ain Sokhna, Egypt.
Carbon Holdings - founded by Basil El-Baz, Chairman and CEO - is a privately owned Egyptian company which develops and operates downstream oil and gas projects in its home country.
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