Basil El-Baz
Basil El-Baz | |
|---|---|
 | |
| Nationality | Egyptian |
| Education | Government |
| Alma mater | Harvard University |
| Occupation | Industrial Entrepreneur |
| Employer | Carbon Holdings |
Basil El-Baz is an Egyptian industrialist, entrepreneur and business executive serving as Chairman and Chief Executive Officer of Carbon Holdings, a downstream oil and gas development company.[1]
Background
While studying government and economics at Harvard University, El-Baz developed the concept for building an ammonia plant in Egypt, which ultimately became Egyptian Basic Industries Company (EBIC).[2] He submitted a feasibility study on this concept and was awarded a grant by the United States Trade and Development Agency to conduct further studies.[3]
El-Baz has developed and financed two major industrial greenfield projects in Egypt, Egypt Basic Industries Corporation (EBIC) and Egypt Hydrocarbon Corporation (EHC). EBIC represents and still is the only project to receive a comprehensive loan guarantee from the Export – Import Bank of the United States.[4] Furthermore, EBIC is one of a select number of projects in Egypt to be financed entirely by consortium of international banks. The project had an approximate value of US$650 million at closing. EBIC proved to be successful and today is the 6th largest global exporter of ammonia. EBIC was eventually sold to Orascom Construction Industries.[5]
Carbon Holdings’ second project, Egypt Hydrocarbon Corporation (EHC), with a transaction value of approximately US$550 million is considered as the first major industrial project to close in post-revolution Egypt.[6][7] Construction of the second project commenced in August 2011 with commercial operation scheduled to commence during the fourth quarter of 2014. In December 2012, Carbon Holdings concluded its US$114 million acquisition of the Egyptian polypropylene producer, Oriental Petrochemicals Company (OPC) and is intending to commence commercial operations in the fourth quarter of 2014.
Carbon Holdings is developing a US$6.75 billion Naphtha Cracker and Polyethylene Complex project named Tahrir Petrochemicals.[8] The project is anticipated of being financed entirely by the Export – Import Bank of the United States, the Export – Import Bank of Korea, the Korea Trade Insurance Corporation and SACE, the export credit agency of Italy.
Appointments and memberships
Presidential Appointments by the President of the Arab Republic of Egypt:
- Member of the Board of Trustees for the “Tahya Misr” (Long Live Egypt) fund / 2014 - present[9]
Appointed as a member by Minister of Trade and Industry of the Arab Republic of Egypt of the following business councils:
- US - Egypt Business Council / 2009 - 2011 / 2012 - present
- Italian - Egyptian Business Council / 2012 - present
- Egypt - Saudi Business Council / 2012 - 2013
Other appointments & chairmanships:
- Co-chair - Energy Committee - American Chamber of Commerce in Egypt (AmCham)
- Member - Energy Committee - Federation of Egyptian Industries
- Chairman and Chief Executive Officer of Egyptian Basic Industries Company (EBIC) 1998 - 2012
- Chairman and Chief Executive Officer of Egyptian Hydrocarbon Company (EHC)
- Chairman and Chief Executive Officer of Tahrir Petrochemical Company (TPC)
- Chairman Oriental Petrochemicals Company (OPC)
References
- ^ "Company Overview of Carbon Holdings" Bloomberg Businessweek. Retrieved 2014-7-21.
- ^ "Committees Energy" AMCHAM. Retrieved 2014-7-21.
- ^ "EGYPT: FORWARD FORUM CONCLUDES ON HIGH-NOTE WITH NEW COMMERICAL [sic] PARTNERSHIPS", USTDA. Retrieved 2014-7-21.
- ^ "Egypt, US companies partner on $3.5 bln petrochemical project" Daily News Egypt. Retrieved 2014-7-21.
- ^ "Orascom Construction Industries Invests in Ammonia Plant" Market Wired. Retrieved 2014-7-21.
- ^ "Egypt Hydrocarbon Company signs $454 million deal" Daily News Egypt. Retrieved 2014-7-21.
- ^ "Egyptian banks back EHC" Project Finance International. Retrieved 2014-7-21.
- ^ "GE, Carbon Holdings sign $500m technology cooperation deal" Arab News. Retrieved 2014-7-21.
- ^ "Presidential decree appoints board of trustees of "Tahya Misr" fund". ahram.org.