Egypt’s Anchorage Investments, which develops, implements, and operates industrial initiatives within the chemical compounds and blue hydrogen sectors, introduced on Tuesday that it has shortlisted 4 worldwide contractors for the EPC (engineering, procurement, and development) tender for its $2 billion Anchor Benitoite challenge within the Suez Canal Financial Zone.

The corporate stated it has shortlisted Hyundai Engineering & Development and Samsung Engineering from South Korea, Technip Energies of Italy, and Tecnicas Reunidas of Spain for the EPC contract.

The Anchor Benitoite advanced, primarily based on the southern terminus of the Suez Canal, will use pure gasoline feedstock to supply a spread of derivatives and petrochemical merchandise to satisfy regional and international demand.

The tendering course of for the EPC contractor was launched in March 2022.

The assertion stated the profitable contractor will probably be chargeable for executing the Entrance-Finish Engineering Design (FEED) section, adopted by full engineering, procurement, development, commissioning, and launch of operations.

It stated the challenge is predicted to be accomplished inside three years after the FEED section.

In December 2021, Anchorage Investments had introduced that monetary shut can be accomplished by 2023.

(Writing by Anoop Menon; Modifying by Seban Scaria)

(anoop.menon@lseg.com)