Shard Capital Partners LLP, along with UAE-based Royal Strategic Partners and Saudi Arabia’s Al-Qahtani Group, has announced a significant $7 billion investment in Egypt’s first petrochemical complex. This project, located in the New Alamein City industrial zone, is set to be a transformative development in the region. A Framework Agreement has been signed with Egypt’s Ministry of Petroleum and Ministry of Investment to launch this groundbreaking venture.
The complex is expected to create 20,000 jobs during its construction phase and 3,000 permanent jobs once it becomes operational, contributing to Egypt’s economic growth and enhancing its industrial capabilities. It will produce around 3.1 million tons annually of eight specialized petrochemical products, primarily using crude oil as feedstock. The facility will incorporate state-of-the-art technologies, including a refinery and a mixed steam cracker unit, designed to achieve some of the highest global conversion rates.
Key to the project’s success will be the integration of advanced American and European technologies, including solutions from Honeywell and other leading global companies. These technologies are aimed at ensuring the highest levels of efficiency, sustainability, and minimizing environmental impact through reduced waste and carbon emissions. The complex will also support Egypt’s long-term industrial competitiveness and strengthen its position as a global player in the petrochemical sector.
Shard Capital Partners LLP is also engaging in preliminary discussions with Orascom Construction regarding the investment in the complex’s construction and operation outside the battery limits on a Build-Own-Operate basis.
The project will play a vital role in boosting Egypt’s export potential, creating new markets for petrochemical products, and improving the country’s industrial expertise in this sector. It is also seen as a key initiative that will foster stronger economic and strategic ties between Egypt, the Gulf countries, and the United Kingdom.
William Blain, Capital Markets Advisor at Shard Capital Partners LLP, emphasized the significance of the agreement, noting the company’s commitment to advancing Egypt’s petrochemical industry through cutting-edge technologies while focusing on sustainability. The partnership also includes efforts in exploring blue hydrogen production as part of a broader sustainability strategy.
Toby Raincock, CEO of Shard Capital Partners LLP, praised the collaborative efforts with UAE and Saudi partners, along with the support from the Egyptian government. He highlighted that this initiative would open new export markets and drive extensive job creation across the region. Additionally, the project benefits from the expertise of Zaki Hashem Attorneys, whose legal team has been crucial in reaching this milestone.
