An assemblage for Egyptian petrochemicals on the Red Sea shores

The executive steps started for establishing a large assemblage for the Egyptian petrochemicals in Ain Sokhna area with a capital of 600 million LE in the participation of Egyptian, Saudi and Iranian companies.

Mohammed Farid Khamis, the head of the the Oriental Weavers Group for Investment and Development, said it is expected that the assemblage would include services and factories related to this industry.

He added that the assemblage's whole production will be exported abroad, saying that the largest plant for generating electric power by using wind is currently being built in the area and it is expected to produce electric power of 600 megawatts in five years to serve the investment movement in the area as it comes in framework of the Egyptian government's desire to develop the Suez Gulf.