Egypt Hydrocarbon Corporation (EHC) has secured a USD 298 million loan from domestic banks to fund the construction of a chemical complex in Ain Sohkna, on the Suez coast of Egypt. The total investment of EHC will be of USD 454 million.
The complex will produce nitric acid, ammonium nitrate and materials for use in the mining industry.
Egypt Hydrocarbon Corporation, a subsidiary of Carbon Holdings, expects to begin operations in 2013. It will consist of a 850 tpd nitric acid plant and a 1,060 tpd AN plant. A Procurement and Construction Agreement has been reached with Uhde GmbH.