Construction

Four global firms shortlisted for $2bn Egyptian chemical complex

By Pramod Kumar

August 25, 2022

The winning contractor will be responsible for executing the front-end engineering design phase of the project in Suez Canal economic zone.

Egyptian industrial developer Anchorage Investments has shortlisted four international contractors in the second phase of the engineering, procurement, and construction (EPC) bid for the $2 billion Anchor Benitoite project, Daily News Egypt reported.

The project comprises a chemicals complex that will be built in the industrial zone of the General Authority for the Suez Canal Economic Zone.

The four shortlisted companies are Hyundai Engineering & Construction Co., Samsung Engineering Co., Technip Energies, and Tecnicas Reunidas.

The selected contractor will be responsible for executing the front-end engineering design phase, followed by the full engineering, procurement, construction, commissioning, and launch of operations.

More than 20 international companies will participate in the Anchor Benitoite project, including foreign financial institutions and commercial banks, said Ahmed Moharram, founder and managing director of Anchorage Investments.

In June, several Saudi Arabian companies signed agreements to invest $7.7 billion in Egypt, with the kingdom planning to allocate $30 billion of investments in the North African country.

In addition, Gulf countries have pledged more than $22 billion to support the Egyptian economy, the news daily reported.