Project near the Suez Canal should create nearly 25,000 jobs, in addition to 50,000 indirect job opportunities in the petrochemicals industry, says CEO of Carbon Holdings Egypt's Carbon Holdings will be cooperating with two European construction firms – Italy's Maire Tecnimont and Holland's Archirodon – in an investment deal worth $1.7 billion, Egypt's ministry of trade and industry announced this week. Privately owned Carbon Holdings agreed with the construction companies to take up services and utilities schemes in its ambitious Tahrir Petrochemicals complex project. Basil El-Baz, CEO for Carbon Holdings, said that the agreement includes engineering and construction services in the complex as well as test runs for the project. Located in Ain Al-Sokhna near the Suez Canal, the Tahrir complex is worth $4.8 billion and is planned to produce annually 1.36 million tonnes of ethylene and polyethylene, which are used in packaging, detergents and electronics. El-Baz was cited in the ministry's statement as saying that the project will reshape the petrochemicals industry in the region. In November 2013, General Electric signed a $500 million agreement with Carbon Holdings to provide support in the building of the world's largest liquid cracker as part of the Tahrir complex project. El-Baz also said that the project will provide 20,000 job opportunities in the construction phase and 3,000 engineering and technical jobs when in operation, in addition to 50,000 indirect job opportunities in the petrochemicals industry. Construction on the project is expected to start by the first quarter of 2015 and should last 46 months before the initiation of a six-month long testing phase, El-Baz said according to the statement. http://english.ahram.org.eg/News/98609.aspx
