Suez Canal Authority Signs $2 Billion Agreement for Petrochemical Complex in Ain Sokhna
The Suez Canal Authority (SCA) has taken a major step toward strengthening Egypt’s industrial future by signing a strategic partnership agreement with Anchorage Investments to establish a world-class petrochemical complex on SCA-owned land in Ain Sokhna, northwest of the Gulf of Suez. The project will be located within the Suez Canal Economic Zone (SCZONE) a vital hub for global trade, industry, and logistics.
Driving Egypt’s Industrial Vision
This milestone agreement reflects the Egyptian government’s directives to expand public-private partnerships and develop an advanced national industrial base built on modern technologies and global sustainability standards.
In its first phase, the complex will produce polypropylene (PP) using propane feedstock, while hydrogen will be generated as a by-product with total investments exceeding $2 billion.
A second phase will follow, expanding production to include additional petrochemical derivatives and complementary industrial units geared toward exports and sustainability, bringing total investments to nearly $4.5 billion.
Economic and Strategic Impact
Once operational, the project will create over 2,500 direct and indirect jobs, significantly boost Egypt’s export capacity, and reduce the national dependency on imported petrochemical products.
It will also contribute to increasing foreign currency inflows, enhancing Egypt’s position as a regional industrial and energy hub, and driving sustainable economic growth.
Suez Canal Authority’s Vision for Diversification
Admiral Osama Rabie, Chairperson of the SCA, emphasized the project’s alignment with the Authority’s long-term strategy to optimize its assets, diversify its activities, and generate multiple income streams.
“The establishment of a petrochemical complex in Ain Sokhna marks a vital step in the SCA’s strategy to build partnerships that strengthen Egypt’s economic foundation,” Rabie stated.
Anchorage Investments: Partnering for Progress
Ahmed Moharram, Founder and Managing Director of Anchorage Investments, affirmed the company’s dedication to implementing transformative industrial projects that support Egypt’s industrial diversification while aligning with global trends in energy transition and advanced manufacturing.
He explained that the Anchorage Polypropylene Complex forms the first phase of a wider industrial vision focused on exports, sustainability, and long-term value creation, combining expertise from leading international partners in engineering, construction, and technology.
Good Face Marine: Supporting Egypt’s Energy and Maritime Growth
At Good Face Marine, we proudly contribute to Egypt’s expanding industrial and maritime sectors by delivering comprehensive marine logistics, offshore support, and energy services across the Suez Canal and Egyptian ports.
Projects like the Ain Sokhna Petrochemical Complex underline Egypt’s growing global role and Good Face Marine continues to play a key role in supporting safe, efficient, and sustainable maritime operations that drive national development.
