The Egyptian Ministry of Petroleum and Mineral Resources has signed a Strategic Framework Agreement with UK-based Shard Capital to develop a $7 billion petrochemical complex in New Alamein City.
This agreement formalizes investment terms, outlines regulatory conditions, and grants the necessary approvals to progress toward financial close and the start of construction. The complex will be a landmark project for Egypt’s industrial development, converting crude into high-value petrochemical products at a 100% efficiency rate—placing it among the most advanced facilities of its kind globally.
The project is expected to significantly boost Egypt’s export capacity and generate long-term economic value by leveraging the country’s strategic position near European, African, and Middle Eastern markets. It will also deliver measurable social and economic benefits through job creation and community development.
The agreement was announced during the Egypt Energy Show (EGYPS 2025), in the presence of Egypt’s Minister of Petroleum and Mineral Resources, the British Ambassador to Cairo, and senior executives from Shard Capital.
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