VOL. XLIV

No. 22

28-May-2001

EGYPT

EGPC Invests $22Mn In SEPCO

The state-owned Egyptian General Petroleum Corporation (EGPC) has agreed to invest $22mn in the Saudi-Egyptian Petrochemical Company (SEPCO), according to a statement issued on 24 May by Sigma Capital, the financier of the deal. EGPCs share in the joint-stock company represents 10% of the paid-up capital in the $550mn polyester project at'Amiriyah, near Alexandria where construction started last January.

The main backer of the SEPCO...