South Korean firm wins $3.5 bln project in Egypt

Reuters, Tuesday 20 Sep 2011

Petrochemicals complex to be built at Ain Sukhna

South Korea's SK Engineering & Construction said on Tuesday that a joint venture it operates with a US company had signed a $3.5 billion deal to build a petrochemicals complex in Egypt at Ain Sukhna, an energy hub on the Gulf of Suez.

The unlisted South Korean builder said in a statement that it and US engineering company Shaw Group plan to construct the complex from 2012 to 2016 under the agreement made with Egyptian private company Carbon Holdings.


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