A contract of strategic partnership has been signed between Suez Canal authority and Anchorage Co. for the establishment of a giant industrial complex for petrochemicals on a land owned by the authority at Sukhna north west Suez  bay at Economic Zone SCEZ.

 This comes to enhance partnership with the Private sector to build an advanced national industrial base       fitted with  latest global technologies, that participate in achieving the state’s comprehensive economic development, and maximize benefitting from resources and local services to produce industrial products of high added value.

 The complex targets in its first stage producing Propylene (PP)  as a main product from propane ore in addition to producing hydrogen as second product, with investments exceeding two billion dollars and in its second stage will produce other petrochemicals.  This in addition to establishment of complementary additional industrial units that concentrate on exporting and sustainability of a cost reaching about 4.5 milliard dollars. Besides providing with more than 2500 direct and indirect job opportunity after accomplishment and start of operation.