Anchorage Investments is an industrial company comprised of various entities that operate in petrochemicals projects, mining/quarrying, project management, and development of beneficiation/building materials manufacturing projects. These projects are distinct thanks to geographical, market, economic, operational, regulatory, logistical, and infrastructure-related factors. The company’s projects fill domestic and regional market needs.
The company operates in Egypt as well as in the MENA region. In terms of petrochemicals, the group produces basic petrochemical building blocks, intermediates, derivatives, and final commodities.
The group’s activities also include mining, beneficiation, and building materials. Born through acquiring one of Egypt’s fastest-growing geological and mining companies, this division is growing to serve various industries, including the fertilizer and building materials industries.
Being an industry player in its field, let us look at regional investments made by the company.
Petroleum Chemicals and Petrochemicals Regional Investments
Recent investments by the company involve a $2.5 billion petrochemical mega project in the Suez Canal. The company plans to build a petrochemical complex in the industrial zone of the General Authority for the Suez Canal Economic Zone.
In 2022, Anchorage Investments already began the selection of potential engineering and construction partners. The project, called Anchor Benitoite, aims to produce various derivatives and products of petrochemicals that should be able to increase the economic value of natural gas derivatives. Once constructed, the project is estimated to increase annual domestic production by 812 thousand tons and create more than 2,50 new jobs in the industry.
Chemical Partners Egypt
In its previous projects, Anchorage Investments got to partner with several collaborators. Recently, the group and Honeywell signed a memorandum of understanding to provide Anchor Benitoite with state-of-the-art automation technologies that allow Honeywell’s latest industrial autonomous technologies to be installed in the petrochemical complex.
Petrochemical Logistics Services
Let us first define petrochemicals; they are chemical substances derived from crude oil and natural gases. The process of producing petrochemicals, called petrochemistry, results in the creation of petrochemical derivatives such as ethylene, propylene, and benzene that are later used to manufacture everyday goods, including plastics, fibers, and rubbers. Petrochemicals are also found in medical equipment as well as automotive parts.
Petrochemical Logistics Services is a key service provider in the industry. They ensure handling, storage, and trading for oil and gas in the MENA region as well as domestically. Their services are a crucial part of the industry’s transportation processes of raw materials.
Rubber Chemical and Petrochemical Skill Development Council
Within the industry, other institutions contribute to developing the skills of demanded manpower. The Rubber Chemical and Petrochemical Skill Development Council (RCPSDC) does that precisely in the rubber sector. Headquartered in India, the organization builds skillful manpower in the tire and on-tire sectors and provides job opportunities to youth nationwide. By doing so, this institution paves careers for the youth in existing roles in the rubber industry.
Some of the RCPSDC’s goals include to:
– Standardize job roles,
– Identify critical job roles with skill gaps,
– Develop standards and assessment tools.
Looking at these petrochemical projects raises curiosity about their construction processes. Companies like Petrochemical Logistics Services provide transportation and handling services locally and regionally. Added to that, associations like the RCPSDC focus on developing reliable and quality manpower to reduce unemployment and achieve the successful completion of these projects.
To conclude, Anchorage Investments is a growing industrial player, operating in numerous fields through its separate entities; the group continues to expand domestically and regionally. The company’s most recent partnership was with Honeywell to have Honeywell install its advanced automated technologies in Anchorage Investments’ upcoming Anchor Benitoite petrochemical plant. The Anchor Benitoite project aims to achieve domestic and regional success noting its strategic location in the Suez Canal, Egypt.