Agility to Manage Carbon Holding Logistics
Global logistics provider Agility has signed a Memorandum of Understanding to manage logistics at Carbon Holdings’ industrial facilities in Egypt. The deal will include construction of the new Tahrir Petrochemicals Complex (TPC) at Ain Sokhna in Egypt’s Suez Canal Economic Zone.
Carbon Holdings develops, owns and operates a number of petrochemical manufacturing projects in Egypt. The 5 million m2 TPC complex that will take shape on the Suez will house the world’s largest single-train naphtha cracker with capacity to produce 1.5 million t/y of ethylene and 880,000 t/y of propylene.
Production facilities at Ain Sokhna will include a derivatives unit for butadiene, benzene and light heating oil and three polyethylene and three polypropylene plants respectively, along with associated facilities encompassing a co-generation plant and a water desalination plant.
Late last year, TPC and Africa Finance Corporation signed a $1.25 Billion equity subscription framework agreement to finance the project, and TPC is expected to raise additional financing during the first half of this year.
Agility said it will work with the midstream and downstream petrochemical and process industrial plant operator to transport plastic byproducts within Egypt and to customers abroad.
The company will also handle distribution of chemical compounds, including low-density ammonium nitrate, within Egypt as well as the onward distribution to container ports for Carbon Holdings’ Egypt Hydrocarbon Corporation (EHC) business.
When TPC goes on stream in late 2022 or early 2023, the new capacity totaling around 4 million t/y is expected to significantly increase Egypt’s total oil and non-oil exports. Carbon Holdings’ CEO Basil El-Baz said Agility’s specialized logistics services will enable it to efficiently and effectively transport its materials from the strategic location on the Suez Canal to points across the globe.
