Egypt’s $10.9bn Tahrir petrochemicals project at the southern end of the Suez Canal has been officially launched. Exports could fetch up to $8bn/year, but not until 2023.

Egyptian private firm Carbon Holdings has signed 48 agreements and contracts to officially launch the long-planned Tahrir petrochemicals project, to be built in the Suez Canal Economic Zone at Ain Sukhna at an estimated cost of $10.9bn.

Among the key deals were engineering, procurement and construction (EPC)...