GE and Carbon Holdings sign agreement for Egypt’s largest petrochemical plant  

GE (www.ge.com) and Carbon Holdings today signed a US$500 million agreement to provide technology and equity support to the greenfield naphtha cracker and olefins complex project of Tahrir Petrochemicals in Ain Sokhna, Egypt. As part of the partnership, GE will provide equity financing and advanced technologies to the new petrochemicals complex. This is part of an integrated package of solutions to meet the needs of the country. The technologies to be provided for the new plant include advanced aero-derivatives gas turbines, steam turbines, generators, water filtration and desalination equipment, turbo machinery compressors and industrial solutions services. The new plant has the potential to drive overall growth of the Egyptian economy with its products having a strong impact on the construction and manufacturing sectors — two key contributors to the national economy. In addition to direct jobs at the plant, the local availability of the plant’s products will also contribute to energizing ancillary industries, thus creating thousands of indirect jobs. With a capacity of 1,360,000 ton/yr of ethylene and polyethylene, as well as significant quantities of propylene, benzene, butadiene and linear alpha olefins, the plant is…