Middle East’s Biggest Petrochemical Plant Moves a Step Closer to Financing

Carbon Holdings hopes to finalize financing for its $10.9 billion petrochemical plant by the end of the year, and expects to begin construction of what would be the Middle East’s largest such facility in the third quarter of 2019. The Tahrir Petrochemical Complex, which will be built in the Suez Canal Economic Zone, will be financed by equity and a $5.4 billion debt package, Mohamed Hassan, the company’s managing director for environment and sustainability, said in an interview. Carbon Holdings has been working on the plant’s financing for years, and is planning a dual listing on the Egyptian bourse and the London exchange in 2019.