Suez Canal Economic Zone signs $2.6bn petchem deal

Egypt expects an 11 percent hike in the revenues from Suez Canal during the first half of 2022. (Shutterstock)
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Updated 22 December 2021
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Suez Canal Economic Zone signs $2.6bn petchem deal

  • The complex aims to export all of this, in line with Egypt’s plan to increase exports of petrochemical products

RIYADH: The Suez Canal Economic Zone has signed a $2.6 billion contract to build an international methanol and ammonia production complex in Ain Sukhna in Egypt, on the western shore of the Red Sea.

The project will be implemented in two phases, with the first ending in 2025 at a cost of about $1.6 billion.  The second, at an estimated cost of $1 billion, will do so over three years. 

The production capacity of the first phase is estimated at 1 million tons of methanol and 400,000 tons of ammonia annually, according to a statement.

The complex aims to export all of this, in line with Egypt’s plan to increase exports of petrochemical products, the head of the economic zone, Yahya Zaki, said.

The complex will provide about 1,200 direct and indirect job opportunities, Zaki added.

Canal revenues

Egypt expects an 11 percent hike in the revenues from the Suez Canal during the first half of 2022, Lt. Gen. Osama Rabie said in a TV interview on Monday.

The chairman and the managing director of the Suez Canal Authority said he expects a commercial boom in the coming period with demand for the channel growing by 11 percent during the next six months.

Rabie said the canal’s revenues during 2021 until the first half of December reached $6 billion, a 13 percent increase as compared with the previous year.


Pakistan reports decline in polio cases in 2025

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Pakistan reports decline in polio cases in 2025

  • Cases drop to 30 from 74 in 2024, with no new infections recorded since September
  • Authorities plan intensified targeted drives in 2026 to halt remaining transmission

ISLAMABAD: Pakistan reported a sharp decline in polio cases in 2025, with infections falling to 30 from 74 a year earlier, as intensified vaccination campaigns and improved surveillance helped curb the spread of the virus, health authorities said on Wednesday.

No new polio cases have been recorded anywhere in the country since September, said a statement, as Pakistan carried out six polio campaigns, including five nationwide drives, trying to reach children in high-risk areas and improve monitoring of virus circulation.

Despite the decline, the authorities cautioned that poliovirus continues to circulate in some districts, requiring sustained vigilance to prevent a resurgence.

“Targeted interventions, robust community engagement, and ongoing vaccination efforts remain essential to reach every missed child and prevent any resurgence,” the official statement said.

“Frontline health workers, security personnel, and local authorities continue to work in close coordination to maintain high immunity levels and ensure that Pakistan remains on course toward becoming polio-free,” it added.

The most recent nationwide campaign, conducted from Dec. 15 to 21, achieved more than 98 percent coverage across the country, including all four provinces, Azad Jammu and Kashmir, Gilgit-Baltistan and the capital, Islamabad.

Authorities reported an 18 percent reduction in the number of missed children compared with the previous round, with notable improvements in access and operations in southern Khyber Pakhtunkhwa, a longstanding challenge area.

Pakistan’s polio eradication drive relies on close coordination between health workers, security personnel and local authorities, amid ongoing resistance in some communities and access constraints in remote or insecure regions.

Officials said district-specific interventions, including improved microplanning, better deployment of vaccination teams and enhanced community outreach, were being used to address remaining gaps, particularly in parts of southern Khyber Pakhtunkhwa.

The statement said Pakistan plans to intensify targeted efforts in 2026 to interrupt the remaining transmission chains and move closer to eliminating the disease.