The Egyptian Minister of Petroleum Tarek El-Molla discussed with the President for Regions and Corporate Affairs at Bechtel Corporation Stuart Jones ways to enhance cooperation in the field of petroleum, in the presence of the American Ambassador in Cairo Jonathan Cohen.
El-Molla reviewed the latest developments of the Red Sea Petrochemical Complex project in the Suez Canal Economic Zone (SCZone), with investments estimated at about $7 billion.
He stated, during a meeting on Tuesday, that the complex project comes within the framework of the Ministry's strategy to expand value-added projects in the petrochemical industry and increase the production capacity of petroleum and petrochemical products to cover the needs of the local market and exports.
He added that the participation of giant international companies in the the East Mediterranean Gas Forum (EMGF), including the American company "Bechtel", is a strong evidence of the importance of this committee and its role in the LNG activity in the region.
On his part, Jones affirmed that Egypt had succeeded in providing an attractive environment for international investors and companies with the increasing pioneering role of Egypt in the region, especially after the establishment of the EMGF.
He pointed to the strong contributions of Enppi and Petrojet in the preparatory work for the project, adding that Bechtel looked forward to cooperate with Egyptian expertise in the construction work.
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