The project cost is expected to be between $1.7bn and $1.95bn, of which 50% is confined to Maire Tecnimont.
As per the deal, both companies will build utilities and offsite facilities for the Tahrir complex, while it is anticipated that Drake & Scull International will become a member of the project, and Italian export credit company, SACE, is currently evaluating its support to the project financing.
The scope of work for the project include engineering, procurement, construction and commissioning (EPCC) services for the complex utilities and offsite facilities that comprise utilities island, sea water desalination system, waste water treatment, sea works, tank farm, jetty works, power plant, pipelines and auxiliary packages and systems.
Maire Tecnimont CEO Pierroberto Folgiero said, "We are very excited to join Carbon Holdings and other very reputable industrial players in this venture, a project that is going to reshape the petrochemical market dynamics in the region."
