Anchorage Investments, which develops, implements and operates industrial projects in the petrochemicals and blue hydrogen sector, announced that four international companies have qualified for the second phase of the tender for the Anchor Benitoite project, which Anchorage Investments intends to establish in the industrial zone of the General Authority for the Zone. The economic zone of the Suez Canal in Egypt, with investments of more than two billion dollars.
According to the company’s statement, Tuesday, the evaluation process in the first stage of the tender resulted in the selection of a short list of the main contractors for the design, engineering, procurement and construction works for the project, which includes four international companies specialized in dehydrogenation units from propane to produce propylene and polypropylene, namely: Italian Technip Energies, and Technicas Reunidas. Spain, Samsung Engineering Co., Ltd., and Hyundai Engineering & Construction.
In the second stage of the tender, the general contractor will be selected, who will undertake the implementation and completion of the activities and procedures necessary for the initial engineering and design phase, in addition to the supply of all equipment and devices for the project, site preparation and engineering, procurement and construction works.
The Anchor Benitoit project, which is expected to be completed within three years after the completion of engineering and design works, aims to contribute to the growth of Egypt’s GDP, increase its chemical exports, and increase foreign direct investment.
For his part, Dr. Ahmed Muharram, founder and managing director of Anchorage Investments, said: The companies that were selected from among the international contracting companies to qualify for the second phase, based on their global experience; This shows how keen Anchorage Investments is for the Anchor Benitoite project to be a model that meets international standards, and meets the requirements of investors looking to strengthen their presence in Egypt.”
The project is in line with the state’s plan to expand the ownership base, encourage direct investment, and the strategy of the Sovereign Fund of Egypt to attract Arab and foreign investors; A number of Saudi companies signed agreements to invest $7.7 billion in Egypt last June.
The Abu Dhabi Sovereign Fund (ADQ Holding) is also leading a wave of Emirati investments in Egypt, including investing $10 billion in industrial projects in Egypt, the UAE and Jordan under the Industrial Partnership Agreement between the three countries. Additional end of last year when the two countries launched a joint strategic investment platform worth $ 20 billion.
About Author
