Project Profile
Value: US$5-8 billion (estimate)
Location: north of the Gulf of Suez, Egypt
Capacity: 155,000 bpd
Construction start: mid-2018
Start-up Year: -
The project is located in a strategic area which underwent development as part of the government\'s launch of the Suez Canal Economic Zone in 2014. The latest Ain Sokhna investment is also linked to Chinese \'Belt and Road\' initiative to create infrastructure for trade with the Middle East, Africa and Europe.
The refinery was initially launched in 2005 by Kuwait and Saudi investors in joint venture with state-owned Egyptian General Petroleum Corp. (EGPC). The partners struggled to secure finance due to the 2011 political turmoil. The refinery was planned to process heavy Egyptian crude into Euro 5-standard fuels for export.
Operators:
Sokhna Refinery & Petrochemicals Co.
Contractors:
SinoHydro (a subsidiary of PowerChina): design, procurement and construction (US$2 billion)
Uhde: early design work
Foster Wheeler (part of Amec) and Technip: early EPC contracts