Suez Canal Signs $2 Billion Deal to Establish Petrochemical Complex in Ain Sokhna
The Suez Canal Authority (SCA) has signed a strategic partnership agreement with Anchorage Investments to build a world-class petrochemical complex in Ain Sokhna, within the Suez Canal Economic Zone (SCZONE) a major step toward enhancing Egypt’s industrial capacity and investment ecosystem.
This landmark project, launched under the directives of Egypt’s leadership, reflects the nation’s vision to strengthen cooperation between public and private sectors and establish an advanced industrial base built on sustainability and innovation.
First Phase: $2 Billion Investment in Polypropylene Production
The initial phase will focus on producing polypropylene (PP) using propane feedstock, with hydrogen generated as a by-product. The total investment for this stage exceeds $2 billion.
The second phase will introduce new petrochemical derivatives and complementary industries, bringing the total project investment to nearly $4.5 billion.
Once fully operational, the project is expected to create over 2,500 jobs and boost Egypt’s export capabilities, while reducing the country’s dependence on imported petrochemical products and strengthening foreign currency inflows.
Strategic Vision and Economic Impact
Admiral Osama Rabie, Chairman of the SCA, highlighted that the new complex aligns with the Suez Canal’s strategy to optimize its assets, diversify its activities, and open new streams of economic growth.
“This project demonstrates our commitment to attracting major investments and positioning Egypt as a key industrial hub,” Rabie stated.
From the private sector, Ahmed Moharram, Founder and Managing Director of Anchorage Investments, emphasized that the Anchorage Polypropylene Complex is the cornerstone of a long-term industrial growth plan focused on sustainability, exports, and advanced manufacturing.
He added that the project integrates global expertise in technology, engineering, and construction, ensuring international standards of governance, transparency, and performance.
About Pilot for Supply
Pilot for Supply is a leading provider of logistics, marine services, and industrial supply solutions supporting Egypt’s growing energy, shipping, and petrochemical sectors.
We proudly contribute to national projects that drive sustainable industrial development such as the Ain Sokhna petrochemical complex by ensuring efficient supply chain operations and world-class service delivery.
