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Hydrocarbon Corporation signs an agreement to build ammonia plant in Ain Sokhna

Monday 16 September 2019 12:06 PM

Carbon-Holdings
Carbon-Holdings


Al-Mal:
Egypt's Hydrocarbon Corporation, a subsidiary of Carbon Holdings,  has signed with Maire Tecnimont  a preliminary EPC contract related to the implementation of a new ammonia plant in Ain Sokhna.
The plant capacity is 1320 tpd and uses KBR technology.

Hydrocarbon Corp. is engaged in the production and sale of ammonium nitrate, which is already produced in the same industrial facility where the new ammonia plant will be built.

The contract will become effective upon the finalisation of certain contractual conditions and once a financial closing is reached. The support of both SACE and US EXIM Bank will be instrumental to execute the financial closing.

The scope of work concerns execution of engineering, supply of all equipment and materials and construction and erection works. The project is expected to be completed in 36 months once it become effective.

The contract was signed by Carbon Holdings Chairman and CEO Basil El-Baz, and Maire Tecnimont Group CEO Pierroberto Folgiero.

The ceremony was also attended by Dalia Khorshid, Chairwoman and CEO of Masar Financial Advisory, Alessandro Decio, CEO of SACE and H.E. Giampaolo Cantini, Italian Ambassador to Egypt.

Pierroberto Folgiero, Maire Tecnimont Group CEO, commented: “We are very happy to expand our footprint in Egypt in our fertilizers core business, leveraging our long-term relationships with the Egypt Hydrocarbon Corp.”

 





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