USTDA Supports Energy Infrastructure in Egypt Creating Market Access for U.S. Companies

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.