Samsung wins US $200 million contract in Egypt

The South Korean Samsung engineering company on Tuesday said that it won a US $200 million contract from the Egyptian Seidi Kreir petrochemical company to build a petrochemicals factory in Egypt to be completed by July 2,000.

In a statement the company said the factory, which will be the first in Egypt to produce low-intensity polyethylene, will be built near Alexandria at a production capacity of 200,000 tons per year.