Award Builds on Company's Extensive Experience in the Middle East

Bechtel has been awarded two contracts by Carbon Holdings of Egypt: one to provide project management services for the Tahrir Petrochemicals Complex at Ain Sokhna, Egypt, and one to build two new polypropylene units at an adjacent site. In its project management role, Bechtel will have oversight of project execution and contractor performance on what will be the largest petrochemicals complex in Egypt.

"For decades we have partnered with customers, contractors, and suppliers in Egypt and the region to safely deliver quality industrial facilities. These awards allow us to continue the legacy with the delivery of world-class facilities for Carbon Holdings," said Joe Thompson, general manager of Bechtel's Downstream and Chemicals business. "At the same time, the project will use goods and services from the United States, supporting jobs and creating opportunities for small businesses in the country."

Basil El Baz, the Chairman and CEO of Carbon Holdings, added, "We are very pleased to be working with Bechtel. The selection of a world-class contractor is critical to ensuring the successful delivery of a facility as large and as complicated as Tahrir Petrochemicals." "Approximately 20,000 Egyptians will be directly employed during the peak construction phase with approximately 3,000 engineers and technicians being employed during the operations phase."

Bechtel will also design, build and procure all the equipment and materials for the polypropylene production expansion at the complex's existing Oriental Petrochemicals site.

Mr. El-Baz also noted that "This new petrochemical plant will produce the basic materials that shall facilitate the domestic manufacturing of some of the most basic products that are required for the industrialization process. This project shall effectively increase Egypt's overall exports by an estimated 110% - Tahrir Petrochemicals is without a doubt a game changer for the Egyptian economy."

Bechtel has successfully delivered complex petrochemical projects for more than 60 years, including signature projects such as the Borouge Petrochemical Complex in Abu Dhabi, CSPC Nanhai in China, and LP-7 in Canada. The company is currently building an ethylene plant in Texas for ExxonMobil.

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