USTDA Supports Energy Infrastructure in Egypt Creating Market Access for U.S. Companies
October 25, 2018
(USTDA)
Cairo, Egypt – As part of this week’s U.S. Business Mission to Egypt,
USTDA’s Acting Director, Thomas R. Hardy, met with Egyptian Ministers such as
Minister of Petroleum and Natural Resources Tarek El Molla and with the more
than 40 U.S. companies on the Business Mission, who are all working together to
support mutually-beneficial commercial opportunities for both countries.
The Business Mission, which was organized by the U.S. Egypt Business Council and
the American Chamber of Commerce in Egypt, also served as the backdrop for
USTDA’s grant signing with Enjaz Project Management, an Egyptian supplier and
service provider in energy and heavy industries markets. The grant agreement
supports a feasibility study for the development of the Enjaz Integrated
Petrochemical Complex Project, a methanol-based chemical complex in the Suez
Canal Economic Zone that will utilize Egypt’s abundant, newfound natural gas
resources to support the country’s growing economy.
The U.S. firm, Fluor (Irving, TX) one of the world's largest engineering,
procurement, fabrication, construction and maintenance companies, will carry out
the study.
“I appreciate the opportunity to visit Egypt and meet with public and private
sector partners to discuss ongoing and future cooperation,” said Acting
Director Hardy. “USTDA is pleased to partner with Enjaz and Fluor on this
important project supporting Egypt’s petrochemical sector. I am excited to see
the new business opportunities and jobs created as a direct result of USTDA’s
engagement in this important development project.”
Mr. Omar Hamza, Chairman and CEO of Enjaz added, “Enjaz is delighted to work
with a well-reputed execution partner, like Fluor, and highly appreciates the
support and grant received from USTDA. This project is the first specialty
chemical project of its kind in Egypt, and has the potential to diversify
Egypt’s petrochemical portfolio while creating new economic opportunities.”
“Fluor is pleased to be part of this important project with Enjaz and
USTDA,” said Al Collins, President of Fluor Energy and Chemicals business in
Europe, Africa and the Middle East. “We are committed to supporting local
entrepreneurs, like Enjaz, who contribute significantly to local industry and
community development. We also appreciate the important role of USTDA in
promoting new business opportunities for American companies, like Fluor, in
Egypt.”
“This important agreement signed today and the robust U.S. business trade
mission that is currently visiting Egypt are concrete examples of the
cooperative work that the United States and Egypt pursue to deepen and
strengthen our longstanding commercial and development partnership,” said U.S.
Embassy Cairo Chargé d’Affaires, Thomas H. Goldberger.
Acting Director Hardy signed the grant with Enjaz’s CEO Mr. Omar Hamza at a
ceremony during the Business Mission.
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