The project will be located on SCA-owned land in Ain Sokhna, northwest of the Gulf of Suez. The first phase, requiring an investment of over $2 billion, will focus on producing polypropylene from propane, with hydrogen as a byproduct.
A planned second phase, estimated at $4.5 billion, will
expand production to other petrochemicals and include export-oriented
industrial units focused on sustainability. Once operational, the complex is
expected to create more than 2,500 direct and indirect jobs.
According to the cabinet’s media office, the project aligns with the SCA’s strategy to diversify its economic activities and maximize asset value. The facility aims to reduce Egypt’s petrochemical import bill while boosting exports to increase foreign currency reserves.