Suez Canal Authority Signs $2 Billion Deal to Build Petrochemical Complex in Ain Sokhna
In a major step toward strengthening Egypt’s industrial and maritime capabilities, the Suez Canal Authority (SCA) has signed a strategic partnership agreement with Anchorage Investments to establish a large-scale petrochemical complex in Ain Sokhna, northwest of the Gulf of Suez. The facility will be developed within the Suez Canal Economic Zone (SCZONE) one of the region’s most significant hubs for global trade, shipping, and logistics.
Strengthening Egypt’s Industrial and Maritime Vision
The agreement represents a cornerstone of Egypt’s ongoing plan to expand cooperation with the private sector and develop a modern national industrial base equipped with cutting-edge technologies and global sustainability standards.
During its first phase, the new complex will produce polypropylene (PP) from propane feedstock, with hydrogen as a by-product. The investment for this phase exceeds $2 billion.
A second phase will follow, introducing additional petrochemical derivatives and supporting industrial units focused on export and sustainability, bringing the total project investment to around $4.5 billion.
Economic Growth and Job Creation
Once operational, the petrochemical complex will create over 2,500 direct and indirect job opportunities, enhance Egypt’s export capacity, and reduce dependency on imported petrochemical materials.
The project will also boost foreign currency inflows and reinforce Egypt’s position as a key regional hub for trade, energy, and industry along the Suez Canal corridor.
Suez Canal Authority’s Strategy for Diversification
Admiral Osama Rabie, Chairperson of the SCA, emphasized that this agreement aligns with the Authority’s ongoing strategy to diversify its economic activities and maximize the value of its assets.
“The establishment of this petrochemical complex in Ain Sokhna reflects the SCA’s clear vision to build partnerships that support Egypt’s industrial and maritime strength,” Rabie stated.
He highlighted that projects like this not only expand industrial capabilities but also enhance the Suez Canal’s contribution to global supply chain efficiency.
A Visionary Private-Sector Partnership
Ahmed Moharram, Founder and Managing Director of Anchorage Investments, confirmed that the Anchorage Polypropylene Complex represents the first stage of a long-term strategy to promote industrial diversification and sustainable manufacturing.
He noted that the project brings together global expertise in engineering, construction, and energy, built on strong principles of transparency, governance, and operational excellence.
“This project aligns with global energy transition trends and reinforces Egypt’s position as a competitive industrial hub in the region,” Moharram added.
Sea Wise Marine Services: Supporting Egypt’s Maritime Development
At Sea Wise Marine Services, we recognize the significance of this milestone for Egypt’s maritime and industrial future.
As a leading provider of ship agency, logistics, offshore, and port operations services across Egyptian ports and the Suez Canal, Sea Wise continues to support major projects that drive economic growth and operational excellence.
The Ain Sokhna Petrochemical Complex stands as a symbol of Egypt’s progress and Sea Wise remains committed to facilitating the smooth flow of global trade through reliable, efficient, and sustainable marine solutions.
