The Suez Canal - Special Economic Zone(SEZ) in Egypt at the investment of $4.8 is expected to create nearly 25,000 jobs, Egypt's ministry of investment, trade and industry said.
The Tahrir complex at Ain Al-Sokhna in Suez Governorate will also generate 50,000 indirect job opportunities in the petrochemicals industry, a ministry statement said.
The project is expected to produce annually 1.36 million tonnes of ethylene and polyethylene, which are used in packaging, detergents and electronics.
It will reshape the petrochemicals industry in the region, the statement said.
The construction on the project is expected to start by the first quarter of 2015 and expected to last 46 months before the initiation of a six-month long testing phase.