Talks with the Industrial and Commercial Bank of China in the Petrochemical Field

Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources received the Africa Region Manager of the Industrial and Commercial Bank of China (ICBC) , Evie Tsai, and the accompanying delegation.

The Minister assured that the government’s program for attracting investments is considered one of the main factors for motivating International Monetary Funds in expressing their desire to finance projects with the required investments.

The African Region Manager asserted on the Bank’s desire to finance different fields of Petroleum Projects strengthening ties between Egypt and China.

The Minister reviewed promising fields in which the Bank can participate in funding including Petrochemical projects such as SIDPEC’s Propylene and its Derivatives Production project as well as ANRPC’s Ammonia Production project at Alexandria and an integrated Petrochemicals project at the economic area of Suez Canal, in addition to Upstream projects in a number of The General Petroleum Company’s concession areas.

They agreed on making a list of those projects for the Bank to study their finance over the next period .