Anchorage shortlists top global firms for $2bln Egypt industrial project

Anchorage shortlists top global firms for $2bln Egypt industrial project

Egypt - Anchorage Investments, a global player which develops, implements and operates industrial projects in the chemicals and blue hydrogen sectors, has shortlisted four international contractors in the second phase of the EPC (engineering, procurement, and construction) tender for the Anchor Benitoite project.

The $2-billion project comprises a chemicals complex that will be built in the industrial zone of the General Authority for the Suez Canal Economic Zone (SCZONE) in Egypt.

The four firms are Hyundai Engineering & Construction Company (HDEC), Samsung Engineering Company of South Korea, Technip Energies of Italy, and Technicas Reunidas of Spain. Each company is experienced in the applications of propane dehydrogenation (PDH) and polypropylene.

Anchorage said all of them were selected following a thorough evaluation process which included strict criteria and a scoring system.

The successful contractor, selected in the final stage of the tender, will be responsible for executing the front-end engineering design (FEED) phase, followed by the full engineering, procurement, construction, commissioning, and launch of operations, it stated.

Scheduled to be completed within three years after the FEED phase, the project aims to contribute to Egypt's GDP, and increase its chemical exports and foreign direct investments.

On the key project, Founder and Managing Director Dr Ahmed Moharram said: "The