GE in Egypt: A $500 Million Petrochemical Partnership
GE is again demonstrating its long-term commitment to Egypt with the recent signing of a $500 million agreement to provide technology and equity support to a new petrochemical plant that is billed to become the world’s largest naphtha liquid cracker.
Carbon Holdings, GE’s partner in the project, expects the plant’s construction to create a total of 20,000 jobs throughout the execution of the project; while 3,000 highly skilled Egyptians will work in the facility once it’s operational. The new naphtha cracker and olefins complex will be located in Ain Sokhna, Egypt.
For GE, which has had a presence in Egypt for more than four decades, the agreement demonstrates how it provides “key customers with technology and capital that can accelerate productivity and address the increasing demand for infrastructure and industrial development,” said John Rice, GE’s Vice Chairman.
GE will provide advanced gas turbines, steam turbines, generators, water-filtration equipment, turbo machinery and other equipment and services for the project, which will feature a 300MW combined-cycle power plant and a 3,800m3/hour desalination plant that will use GE’s proprietary reverse osmosis filtration technology.
Across Egypt, GE’s advanced gas turbines help generate more than 7 gigawatts of electricity, nearly 25% of the country’s total installed capacity. For more on GE’s extensive presence in Egypt, click here. For additional information on GE power generation and desalination, click here.