Leading Egyptian industrial firm, Anchorage Investments, is a petrochemical company operating in various fields, including mining/quarrying, project management, and beneficiation/building materials manufacturing project development. Anchorage Investments was established to develop, invest, and have ownership of operating industrial projects in the petrochemical and mining manufacturing sectors. The group does so through separate entities and their technical development capacities.
Anchorage Investments is reputed to have a history of technical proficiency and experience in industrial development and building projects, as well as a strategic national and regional physical position regarding the richness of raw material resources and their relevant value chain integration opportunities. The group’s main goal is to look for and seize opportunities that fill market gaps or have profitable export potential, offer adequate returns on investment, and profit the group by enhancing its capabilities, credibility, and value and using the synergies required for growth.
The group recently announced their newest project, Anchor Benitoite. The project involves developing a state-of-the-art petrochemical complex in the Suez Economic Zone of Egypt. The petrochemical facility is set to produce a total of 1.75 million tonnes of petrochemical products and intermediates, including propylene, polypropylene, crude acrylic acid, n-butanol, and butyl acrylate annually. Anchor Benitoite is envisioned as a gateway to petrochemical activity on a regional and worldwide scale because the project is situated in a zone known to offer significant benefits in terms of its geographical location, port connection, and associated capital and operating expenses.
Among the many goals the project aims to achieve, Anchor Benitoite hopes to become a game changer in Egypt and Africa. According to the company, Anchor Benitoite would be one of the group’s most significant investments in the past decade, regionally recording an investment close to USD 2 billion. This would increase Egypt’s competitiveness and position it as a petrochemical hub. In addition, the project would attract new foreign direct investments.
Secondly, through skilled human resources, the Anchor Benitoite project hopes to offer additional jobs making way for more than 2,500 direct and indirect jobs and almost 5,000 jobs to be filled during construction. Employees part of this project will be able to develop technical and non-technical, managerial, and health and safety standards skills through elaborate training programs.
Thirdly, through numerous complementary and synergistic pipeline projects in proximity, a distinctive location offering access to eastern and western markets, and deep-sea access to the port, the zone is entitled to become an important petrochemical cluster and economic engine in Egypt, the Middle East, and Africa.
Moreover, as Anchorage Investments uses its expertise in the petrochemical field, the company’s project is envisaged to be a platform to produce high-value products. By manufacturing various precursors to downstream industries and products forming building blocks for various uses, thanks to five major installations, Anchor Benitoite will fill a geographical gap.
With state-of-the-art technologies for each production unit, Anchor Benitoite will be a forerunner of utilized technologies and environmental performance. By-products produced will constitute a basis for energy optimization as a partial fossil fuel substitute. These highly efficient technologies will ensure successful performance and execution as well as provide trust to stakeholders.
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