Arab Finance: The Suez Canal Authority (SCA) has signed a memorandum of understanding (MoU) with Anchorage Investments to establish a petrochemicals industrial park in Ain Sokhna, SCA stated on June 8^th.

Under the MoU, both sides will team up to implement the park on a SCA-owned land located northwest of the Gulf of Suez.

The agreement is part of the authority’s plans to diversify its income resources, in addition to boosting development projects at the Suez Canal Economic Zone (SCZONE) and creating job opportunities, SCA’s Chairman Osama Rabie noted.

The deal also contributes to turning Egypt into a regional hub in the fields of industries, petrochemicals, and energy, Anchorage Investments’ Founder and Managing Director Ahmed Moharram said.

Al Baraka Bank Egypt teams up with Delta University to back financial inclusion Updated 4/29/2025 2:02:00 PM

Suez Canal sees return of 264 ships rerouted from Cape of Good Hope since February Updated 4/16/2025 2:51:00 PM

Rashpetco, Burullus Gas to boost daily natural gas output to 320M cubic feet in FY2024/25 Updated 3/24/2025 11:15:00 AM

Methanex Egypt, Petroleum Ministry strengthen partnership with new PSM MoU Updated 2/20/2025 1:51:00 PM

Egypt partners with UK's Shard Capital, Al-Qahtani's PWS on $7B petrochemical complex in New Alamein Updated 2/19/2025 1:18:00 PM