South Korea’s conglomerate GS is establishing the largest petrochemicals factory in Egypt at a total cost of USD 3.7 bn, Invest-Gate reports.

South Korean Ambassador in Cairo Yoon Soon-Gu makes the statement, highlighting that construction works at the factory would end by the end of June, 2018. The factory, he adds, will provide half of Egypt’s need of diesel fuel.

The South Korean envoy also notes that Egypt and South Korea have become strategic partners in all fields, especially after President Abdel Fattah El Sisi’s latest visit to Seoul.