SK E&C consortium winds $3.6 billion contract in EgyptA consortium of SK Engineering and Construction and Germany’s Linde has won a $3.6 billion contract to build a petrochemical plant in Egypt.
SK E&C, an affiliate of SK Group, said yesterday the contract with Egypt’s Carbon Holdings is to build a facility with an annual production capacity of 1.35 million tons of polyethylene and ethylene at Ain Sokhna Industrial Complex in Northeast Egypt.
SK E&C said it will receive $900 million as its share of the polyethylene plant project. Construction is scheduled to begin next year and will end in early 2019.
This is the first project from SK E&C, which has been known as a total-solution provider offering financing, design, engineering, procurement and construction.
The company hopes the project will lead to additional business in North Africa.