Shard Capital Partners LLP, in collaboration with UAE-based Royal Strategic Partners and Saudi Arabia’s Al-Qahtani Group, has signed a landmark Framework Agreement with Egypt’s Ministry of Petroleum and Ministry of Investment to develop the country’s first integrated petrochemical complex in New Alamein’s industrial zone.
Landmark Agreement Signed
The project represents a major step forward for Egypt’s petrochemical sector, with a total investment of $7 billion. During the construction phase, it is expected to generate 20,000 jobs, with 3,000 permanent positions once operational. This initiative aims to drive Egypt’s economic growth, enhance local expertise, and strengthen trade ties with Gulf nations and the UK.
The state-of-the-art complex will feature a production capacity of approximately 3.1 million tons annually, producing eight specialized petrochemical products. Using crude oil as its primary feedstock, it will include a refinery and a high-efficiency mixed steam cracker unit, achieving one of the world’s highest conversion rates.
Incorporating the latest American and European technologies from global leaders such as Honeywell, the facility will maximize production efficiency while minimizing waste and carbon emissions. The complex is also expected to enhance Egypt’s export capabilities, positioning the country as a key player in the global petrochemical market.
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Shard Capital is currently in early discussions with Orascom Construction regarding potential investment in the construction and operation of the complex under a Build, Own, and Operate (BOO) model.
Commenting on the agreement, William Blain, Capital Markets Advisor at Shard Capital, stated:
“This milestone reflects our deep commitment to revolutionizing Egypt’s petrochemical industry. By leveraging advanced American and European technologies, we aim to achieve maximum efficiency in converting raw materials into high-value petrochemicals while delivering significant economic returns.”
He further emphasized Shard Capital’s dedication to sustainability, highlighting ongoing collaborations with U.S. partners to explore blue hydrogen production feasibility studies.
Toby Raincock, CEO of Shard Capital Partners LLP, added
“This project, in close partnership with the UAE, Saudi Arabia, and the Egyptian government, will significantly enhance Egypt’s industrial capacity, open new export markets, and create thousands of jobs.”
Additionally, he acknowledged the crucial role played by the firm’s legal team, led by Yasser Hashem, Managing Partner of Zaki Hashem Attorneys, with support from Senior Associate Nour Ossama, in facilitating the agreement’s completion.
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