Milan, 12 September 2019
Maire Tecnimont S.p.A. announces that its subsidiary Tecnimont S.p.A. has signed with Egypt Hydrocarbon Corporation, a subsidiary of Carbon Holdings, a preliminary EPC contract related to the implementation of a new Ammonia plant in Ain Sokhna, Egypt, near Suez.
The plant capacity is 1320 MTPD and uses KBR technology.
Egypt Hydrocarbon Corporation is a company engaged in the production and sale of Ammonium Nitrate, which is already produced in the same industrial facility where the new ammonia plant will be built.
The contract will become effective upon the finalization of certain contractual conditions and once a financial closing is reached. The support of both SACE and US EXIM Bank will be instrumental to execute the financial closing.
The Scope of Work concerns execution of engineering, supply of all equipment and materials and construction and erection works. The project is expected to be completed in 36 months once it become effective.
The contract was signed by Carbon Holdings Chairman and CEO Basil El-Baz, and Maire Tecnimont Group CEO Pierroberto Folgiero.
The ceremony was also attended by Mrs Dalia Khorshid, Chairwoman and CEO of Masar Financial Advisory, Mr Alessandro Decio, CEO of SACE and H.E. Giampaolo Cantini, Italian Ambassador to Egypt.
Pierroberto Folgiero, Maire Tecnimont Group CEO, commented: “We are very happy to expand our footprint in Egypt in our fertilizers core business, leveraging our longterm relationships with the Egypt Hydrocarbon Corporation”
Maire Tecnimont SpA
Maire Tecnimont S.p.A. is a company listed on the Milan stock exchange. It heads an industrial group (the Maire Tecnimont Group) that leads the natural resources processing sector (plant engineering in the oil&gas downstream industry, with specific technological and execution capabilities). Through its subsidiary NextChem the Group operates in the field of Green Chemistry and technologies supporting the energy transition. The Maire Tecnimont Group operates in approximately 45 different countries, numbering around 50 operative companies and a workforce of more than 6,300 employees, along with approximately 3,000 additional Electrical & Instrumentation professionals. For more information: www.mairetecnimont.com.
Carbon Holdings is a privately owned midstream and downstream petrochemical and process industrial plant company and is the principal shareholder and sponsor of several projects in the industrial zone in the Northwest Gulf of Suez, Egypt. Established in 2008 by Chairman and Chief Executive Officer Basil El-Baz, Carbon Holdings is a leader in the development and operation of petrochemical manufacturing projects in Egypt. Its portfolio includes Oriental Petrochemicals Company (OPC), a top producer of polypropylene, and Egypt Hydrocarbon Corporation (EHC), a leading producer of nitric acid and low-grade ammonium nitrate in the Middle East and Africa. The company is also establishing the Tahrir Petrochemical Complex with an investment of circa US$11 billion, which will be located in Suez Economic Zone.
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