Egypt: China’s Sinopec Welcomes Setting Up Petrochemical Industries Complex in Gulf of SuezSource: www.export-egypt.com 2/22/2017, Location: Africa |
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 Prime Minister Sherif Ismail met Wang Yupu, the chairman of Sinopec, a Chinese oil and gas company based in Beijing, who led a delegation of representatives of Chinese companies.
During the meeting, the prime minister reviewed efforts exerted by the Egyptian government to implement an economic and social reform program, which included a number of decisions and legislative measures to achieve the aspired growth rates and lure investments. Ismail lauded Sinopec’s activity in Egypt, which comes as part of boosting the existing cooperation between the Egyptian and Chinese sides in various fields, especially in the mineral wealth. Egypt hopes Chinese companies would increase their investments in the fields of excavation, production, transport and refinery of oil and gas, Ismail said. Egypt has several promising opportunities in the petrochemicals field and development of refineries, especially in the Suez Canal zone, he added. For his part, the Sinopec chairman praised the new discoveries of oil and gas in Egypt, which will contribute to increasing the production and providing power sources to meet the country’s needs. He also welcomed a proposal to establish a petrochemical industries complex in northwestern the Gulf of Suez. |
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