Shard Capital Partners LLP, in partnership with UAE-based Royal Strategic Partners and Saudi Arabia’s Al-Qahtani Group, has announced the signing of a Framework Agreement with Egypt’s Ministry of Petroleum and Ministry of Investment to establish Egypt’s first state-of-the-art petrochemical complex in the industrial zone of New Alamein City.
As part of the project’s execution, Shard Capital has initiated preliminary discussions with Orascom Construction to collaborate on the design, construction, and operation of the facility’s infrastructure under a Build, Own, and Operate (BOO) model.
With a projected investment of $7 billion, the project will create 20,000 jobs during its construction phase and 3,000 permanent positions upon operation, underscoring its significance in driving economic growth and job creation in Egypt.
Transforming Egypt’s Petrochemical Industry
This groundbreaking venture represents a major milestone for Egypt, offering an integrated petrochemical complex with an annual production capacity of approximately 3.1 million tons of eight specialized petrochemical products. Leveraging crude oil as its primary feedstock, the complex will include a refinery and a mixed steam cracker unit capable of achieving one of the highest conversion rates globally.
The advanced complex will employ cutting-edge American and European technologies, with support from global leaders like Honeywell, to optimize production efficiency, minimize waste, and adhere to the highest sustainability standards. This investment aims to position Egypt as a competitive global player in the petrochemical sector while supporting the nation’s commitment to sustainable development.
Boosting Egypt’s Exports and Strengthening Global Ties
The project will significantly enhance Egypt’s export capacity, generating high-value petrochemical products for international markets while reducing reliance on imports. Moreover, it will deepen strategic partnerships between Egypt, the Gulf Cooperation Council (GCC) countries, and the United Kingdom, reinforcing regional and international collaboration in the industrial and energy sectors.
Environmental Sustainability and Innovation
William Blain, Capital Markets Advisor at Shard Capital Partners LLP, emphasized the project’s transformative impact:
“Signing this agreement is a historic moment for Shard Capital LLP and reflects our dedication to advancing Egypt’s petrochemical sector. This complex will leverage innovative technologies from the U.S. and Europe to maximize efficiency and reduce environmental impact while delivering exceptional economic returns for both the facility and Egypt.”
He further added:
“Our commitment to sustainability is unwavering. Through partnerships with U.S. companies, we are exploring blue hydrogen production feasibility studies as part of our vision for a more sustainable and environmentally conscious future.”
Leadership Commitment
Toby Raincock, CEO of Shard Capital Partners LLP, commented:
“This complex exemplifies our close collaboration with partners in the UAE and Saudi Arabia and the unwavering support of the Egyptian government. Together, we aim to bolster Egypt’s industrial capabilities, open new export markets, create thousands of jobs, and contribute to regional economic development.”
He also expressed gratitude to the legal team led by Yasser Hashem, Managing Partner at Zaki Hashem & Partners, and Nour Ossama, Senior Associate, for their instrumental role in securing the agreement.
Key Highlights of the Project
Investment: $7 billion
Jobs Created: 20,000 during construction; 3,000 permanent positions
Production Capacity: 3.1 million tons annually of specialized petrochemicals
Technologies: Advanced U.S. and European systems ensuring efficiency and sustainability
Strategic Benefits: Boosts exports, enhances industrial expertise, and strengthens international ties
This transformative project underscores Shard Capital’s commitment to advancing Egypt’s petrochemical sector and creating a sustainable future for generations to come.
For further information, visit www.shardcapital.com or contact:
Media Enquiries
SEC Newgate: ShardCapital@secnewgate.co.uk
Emily Church
