GE And Carbon Holdings Sign US$500mn Naptha Cracker Agreement
News: On Nov 18 2013, US conglomerate General Electric (GE) and Egyptian chemicals development company Carbon Holdings signed a US$500mn agreement to finance the construction of a greenfield naptha cracker at the US$4.8bn Tahrir Petrochemicals Complex in Ain Sokhna, Egypt. GE and Carbon Holdings will provide equity support and technologies for the plant including advanced generators, aero-derivates gas turbines, water filtration and desalination equipment, turbo machinery compressors and steam turbines. The cracker, having an annual production capacity of 1.36mn tonnes of polyethylene and ethylene, would also produce significant amounts of benzene, butadiene, propylene and linear alpha olefins. The construction of the cracker, which is likely to begin in 2014, is expected to take around 50 months.