SK lands Egypt contract for petrochemical plant

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SK lands Egypt contract for petrochemical plant

SK Engineering & Construction said yesterday that it had clinched a 3.7 trillion won ($3.2 billion) deal for a petrochemical plant in Egypt.

Under the agreement with Egypt’s Carbon Holdings, SK E&C, which set up a joint venture with U.S. engineering firm Shaw Group Inc. for the project, will build a petrochemical industrial complex with an annual production capacity of 1.35 million tons of ethylene.

The complex will be in Ain Sokhna, about 120 kilometers (75 miles) east of Cairo.

The construction is scheduled to begin in 2012 and be completed by 2016, SK E&C said.

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