Mazghouny & Co has assisted Scatec with signing the joint development agreement concluded with Alexandria National Refining and Petrochemicals Company (ANRPC) for cooperation in the implementation of the first biomethanol production facility in Egypt and the region with a capacity of 40,000 tonnes per year with an investment cost of approximately USD 450 million, to be increased up to 200,000 tonnes per year.
The agreement was signed on 14 May, by the chairmen of both companies in the presence of their excellencies Egypt’s Minister of Petroleum and Mineral Resources and the Royal Norwegian Ambassador in Cairo. The project aims at helping Egypt capitalise on its strategic position in respect of global trade by enabling the creation of a bunkering hub for international shipping along the Suez Canal.
Mazghouny & Co Projects & Infrastructure team has assisted Scatec with the drafting of the joint development agreement, and head of terms for securing feedstock for the project from companies affiliated to the Egyptian Ministry of Petroleum and Mineral Resources.
