Cairo : 00:00

New York : 00:00

London : 00:00

Beijing : 00:00

Dubai : 00:00

Carbon Holdings Sponsors Squash World Champions Ali Farag and Nour El Tayeb

Carbon Holdings, a leading integrated petrochemicals producer in Egypt, is pleased to announce that it signed a sponsorship agreement with Egyptian world squash champions Ali Farag and Nour Al Tayeb as part of the company’s ongoing efforts to support Egypt’s young talent in every field.

“At Carbon Holdings, we believe that supporting and nurturing local talent such as the remarkable husband and wife team, Ali Farag and Nour El Tayeb, is of the utmost importance. These dedicated and talented athletes should be given the support and encouragement that they need to continue excelling on the global arena and we are more than happy to do our part in helping them achieve their goals,” said Carbon Holdings Chairman and Chief Executive Officer, Basil El-Baz.

The couple made sporting history as the first husband and wife to win the same major singles title on the same day in last year’s US Open Squash Championship after El Tayeb defeated Raneem El Welily in the woman’s final and Farag beat Mohamed El Shorbagy in the men’s. Farag currently holds the second spot on the Men’s PSA World Squash Rankings —— while Al Tayeb ranks third on the women’s list, having climbed four spots since February 2018 after taking home the 2018 Windy City Open title.

“I am exceptionally proud and excited to be sponsoring Nour and Ali as we do our part to recognize their historic achievements in sports history,” said Karim Helal, Managing Director of Corporate Finance and Investor Relations at Carbon Holdings. “After taking home both US Open Squash titles last year, the couple is a testament to the edict that behind every great man is a great woman, and behind every great woman is a man who believes she can achieve anything,” he added.

Helal also stressed how important it is for the business community to extend support to young athletes, adding that Carbon Holdings’ decision to sponsor the couple was not only based on their top rankings but also the result of an exercise undertaken to identify those most deserving of the company’s backing based on shared values.

Carbon Holdings was founded in 2008 by El-Baz and stands today as a leader in the development and operation of petrochemical manufacturing projects in Egypt. Its portfolio includes Oriental Petrochemicals Company (OPC), a top producer of polypropylene, and Egypt Hydrocarbon Corporation (EHC), the only producer of nitric acid and low-grade ammonium nitrate in the Middle East and Africa. The company is also investing USD 10.8 billion to establish Al-Tahrir Petrochemical Complex in the Suez Canal Economic Free Zone.

Al-Tahrir Petrochemicals Complex, which will include the largest naptha cracker in the world, will specialize in the production of various types of petrochemicals as part of a broader strategy to manufacture consumer-facing and industrial products, and contribute to Egypt’s plan to become a gas export hub. The project is expected to create approximately 20,000 direct and 15,000 indirect jobs during the construction phase alone. Once operational, it will employ more than 3,000 skilled workers, including both engineers and technicians.

Once the complex is fully operational, Al Tahrir could potentially double the volume of Egypt’s chemical products exports to approximately USD 6 billion per year. It will also act as an import substitution play reducing current polymer imports by EGP 300 million.  Production capacity will not only meet local needs, it will also allow the company to export polymer products worth USD 3.5 billion to global markets.

Carbon Holdings is backed by domestic and global investors including the International Finance Corporation, the European Bank for Reconstruction and Development, the African Finance Corporation and Gulf Capital.

 

—Ends—

 

About Carbon Holdings:

 Carbon Holdings is a privately owned midstream and downstream petrochemical and process industrial plant company and is the principal shareholder and sponsor of several projects in the industrial zone in the Northwest Gulf of Suez, Egypt. Established in 2008 by Chairman and Chief Executive Officer Basil El-Baz, Carbon Holdings portfolio includes Oriental Petrochemicals Company (OPC), a top producer of polypropylene, and Egypt Hydrocarbon Corporation (EHC), the only producer of nitric acid and low-grade ammonium nitrate in the Middle East and Africa. The company is also establishing Al-Tahrir Petrochemical Complex with an investment of USD 10.8 billion, which will be located in Suez Canal Free Economic Zone.

 

Contacts:

Carbon Holdings

Hana Shoukry

Tel: +20 (0)2 3344 4774

Email: hshoukry@carbonholdings.com

 

International Inquiries:

Hudson Sandler

Nick Lyon / Bertie Berger

Tel +44 (0) 207 796 4133

Email: carbonholdings@hudsonsandler.com

 

Forward-looking statements:

This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as “according to estimates”, “aims”, “anticipates”, “assumes”, “believes”, “could”, “estimates”, “expects”, “forecasts”, “intends”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “to the knowledge of”, “will”, “would” or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Company.

Forward-looking statements reflect the current views of the Company’s management (“Management”) on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the Company’s actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.

The Company’s business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the for-ward-looking statements contained in this prospectus. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.