📋 Tender Overview
Engineer Tarek El Molla Minister of Petroleum and Mineral Resources and the French Ambassador in Cairo Stphane Romatet witnessed the signing of the engineering contract for the manufacturing licenses of the Red Sea Petrochemical Complex project between the Red Sea National Petrochemical Company and the leading French company Axness in this field. The contract was signed by Eng. Mohamed Abadi President of the Red Sea Company and Jean Sentinac President The French Axness Company in the presence of the chemist Saad Hilal President of the Echem Petrochemical Holding Company Engineer Mohamed Abdel Aziz Undersecretary for Projects Engineer Mahmoud Nagy Deputy Minister for Transport and Distribution and the delegation of the French Axness Company.Under the contract Axness will provide the technology for manufacturing licenses for the hydrocracking complex for mazut and for the production and separation of aromatics with a total of 7 production licenses representing about 50 of the total project licenses which will enable the complex to produce many petrochemical products including parasylene benzene and a low-sulfur bunker fuel product in accordance with international standards. IMO 2020.After the signing El-Molla confirmed that this ambitious project will put Egypt in the ranks of countries producing high-quality petrochemical products and is one of the most important projects that the petroleum sector is currently working on noting that the French Axense company has pioneering technological expertise and has been cooperating with the petroleum sector for years in implementing major projects. Such as the ANPEC complex and other projects in Assiut and Suez. They also have effective contributions to human cadres training programs within the framework of the petroleum sector development and modernization project.El Molla added that France is a strategic partner for Egypt in many fields and that its keenness to join the East Mediterranean Gas Forum and its support for its activities from the beginning confirms that France is a friendly and supportive country for Egypt and its regional and international efforts noting that the petroleum sector enjoys many successful partnerships with French oil companies such as Total and Engy. and others.For his part the Axness president affirmed the companys commitment to providing the latest technologies timely implementation and full cooperation and coordination with all companies working on the project to speed up efficient completion stressing that the presence of Axness and other French companies confirms Frances support for Egypt believing in the leading and important role that Egypt plays in region and the world.It is worth noting that the investment cost of the project amounts to about 7.5 billion to produce high-quality petrochemical products to meet local needs and export the surplus which contributes to achieving additional income from hard currency and contributes to improving the countrys trade balance.
