GE Inks $500M Deal To Support Egyptian Petrochem Project

Law360, Washington (November 18, 2013, 3:43 PM EST) -- General Electric Co. has agreed to a $500 million deal with Egyptian oil and gas project developer Carbon Holdings Ltd. to provide technology and equity support for the pending Tahrir Petrochemicals Complex project, the companies announced Monday.

Under the terms of the partnership deal, signed Monday under the watch of Egypt's Foreign Trade Minister Mounir Fakhry Abdel-Nour, GE will provide equity financing and "advanced technologies" for the plant, including gas and steam turbines, power generators, water filtration and desalination equipment, compressors and industrial services. The announcement...
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