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EGYPT: Construction plans for proposed $1,100,000,000 polyethylene (PE) plant move ahead,...

PROJECT OVERVIEW:

Egypt is soon expected to sign a joint venture agreement regarding the construction of a polyethylene (PE) plant that is said to be the last of 8 such deals in the first phase of a more than $10,000,000,000 petrochemical expansion plan being promoted by the local EGYPTIAN PETROCHEMICAL HOLDING CO. (ECHEM). According to Sherif Ismail, ECHEM Executive Deputy Chairman, the agreement with a strategic investor is anticipated to be signed within 90 days.

Although ECHEM did not reveal the name of the investor industry sources have stated that US

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