Release date: 5 October 2005
Promoter – Financial Intermediary
A joint venture between the public sector Egyptian Petrochemicals Holding Company (ECHEM) and a Canadian private sector company.Location
Description
Construction of a world scale methanol plant with a nominal capacity of approximately 1.3 million tonnes per annum, inclusive of supporting utilities and infrastructure.
Objectives
The project will allow Egypt to utilise and to add value to a part of the proven large Egyptian reserves of natural gas. It will have beneficial effects on employment and generate foreign exchange revenue for the country. The project entails technology transfer through the participation of a leading private sector company.
Comments
Manufacturing.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 170 million
Total cost (Approximate amount)
USD 600 million
Environmental aspects
Environmental Impact Assessment (EIA) procedures are to be carried out in accordance with national legislation which, given the technical characteristics of the project, requires a full EIA with formal public consultation, in line with the requirements for this type of project within the EU (Annex I of Directive 97/11/EC).
Procurement
The promoter will apply EIB guidelines for international procurement procedures, where appropriate.
Status
Signed - 21/12/2006
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).