The Suez Canal Authority (SCA), which oversees the Suez Canal Economic Zone (SCZone), recently signed a strategic partnership agreement with Anchorage Investments for the first phase of a major petrochemical complex in Ain Sokhna, with investments exceeding USD2 billion.
The entire complex, including a second phase to produce other derivatives and complementary units, is estimated to cost an approximate USD4.5 billion in total investments, with some reports indicating a potential total of USD6 billion when taking into account potential future expansions.
The immediate project goal is to o build a large-scale petrochemical complex, with the initial phase focusing on producing polypropylene (PP) from propane feedstock, along with hydrogen as a byproduct.
The project aims to boost Egypt’s exports and reduce the national import bill for petrochemicals, while attracting foreign currency inflows, and creating over 2,500 direct and indirect jobs.
SCA Chairman Admiral Osama Rabie said that the partnership aligns with SCA’s strategy to maximise the use of its assets, diversify its economic activities, and position Egypt as a regional hub for petrochemical production.
Anchorage Investments Founder and Managing Director Ahmed Moharram expressed pride at joining SCA as a strategic partner. He stressed his firm’s commitment to long-term projects that go beyond the traditional.
The agreement was signed on 22 October 2025 by Admiral Rabie and Mr Moharram.
Watani International
4 November 2025
