Basil El-Baz

Basil El-Baz
Nationality Egyptian
Education Government & Economics
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 mid-to-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 Egypt Basic Industries Corporation (EBIC). 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.[2]

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. 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.[3] EBIC proved to be successful and today is the 6th largest global exporter of ammonia. EBIC was eventually sold to Orascom Construction Industries.[4]

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.[5][6] Construction of the second project commenced in August 2011 with commercial operation scheduled to commence during the first quarter of 2017.

In December 2012, Carbon Holdings concluded its US$114 million acquisition of the Egyptian polypropylene producer, Oriental Petrochemicals Company (OPC), which had been shut down since 2011. After a technical and commercial restructuring, OPC re-commenced commercial operations in the fourth quarter of 2015.

Carbon Holdings is developing the approximate of US$10.8 billion Naphtha Cracker and Polyethylene Complex project named Tahrir Petrochemicals Corporation (TPC).[7] It is anticipated that the project will be financed entirely by the Export – Import Bank of the United States (US EXIM), the UK Export Finance (UKEF), Overseas Private Investment Corporation of the United States (OPIC), Euler Hermes of Germany and Export Development Canada (EDC).

Awards

  • Carbon Holdings was nominated for two awards at the African Assembly 2018 which was held in Paris, "Deal of the Year " and "Breakthrough Company of the Year". The African Assembly is hosted by the Oil and Gas Council and it is organised as the region's most influential corporate development, strategy, finance and investment gathering. It is a catalyst for the growth and development of the African energy industry.
  • Basil El-Baz was nominated for "Young CEO of the Year" during Africa CEO Forum in 2017 and 2018. The Africa CEO Forum is the unparalleled gathering of the most influential African and international CEOs, bankers and investors. It has established itself as a unique platform dedicated to the private sector in Africa as well as corporate strategy in the African context, and takes place in a high-quality setting, conducive to doing business.
  • Ranked by Institut Choiseul as the 1st in their annual top 100 African business leaders in 2017, which is an annual study independently carried out by Paris-based Institut Choiseul that identifies and ranks the young African business economic leaders aged 40 years old and below. The study by Choiseul intends to highlight those women and men who play a major role in the continent's economic development.
  • Basil El-Baz was awarded Africa Entrepreneur of the Year 2016. He is the first Egyptian entrepreneur to receive such an honor. The award was announced at the Africa-France Economic Forum at the 27th Africa-France Summit held in Bamako, Mali on 13 January 2017. The Business Africa Entrepreneur Awards, in connection with Business Africa, and in partnership with MEDEF (Mouvement Des Enterprise De France) and Institut Choiseul.[8][9]
  • Ranked by Institut Choiseul as the 12th in their annual top 100 African business leaders in 2016, which is an annual study independently carried out by Paris-based Institut Choiseul that identifies and ranks the young African business economic leaders aged 40 years old and below. The study by Choiseul intends to highlight those women and men who play a major role in the continent's economic development.[10]
  • Ranked by Institut Choiseul as the 12th in their annual top 100 African business leaders in 2015, which is an annual study independently carried out by Paris-based Institut Choiseul that identifies and ranks the young African business economic leaders aged 40 years old and below. The study by Choiseul intends to highlight those women and men who play a major role in the continents economic development.

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 [11]

Appointed as a member by the Minister of Investment of the Arab Republic of Egypt to:

  • The National Committee for Managing State Assets / 2014–present

Appointed as a member by the 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 - UAE Business Council: 2015–present
  • Egypt - Korea Business Council: 2015–present
  • Egypt - Saudi Arabia Business Council: 2012 - 2013

Other appointments & chairmanships:

  • Co-chair - Energy Committee - American Chamber of Commerce in Egypt (AmCham)[12]
  • Member - Energy Committee - Federation of Egyptian Industries
  • Chairman and Chief Executive Officer of Egypt Basic Industries Corporation (EBIC) 1998 - 2012
  • Chairman and Chief Executive Officer of Egypt Hydrocarbon Corporation (EHC)
  • Chairman and Chief Executive Officer of Tahrir Petrochemical Corporation (TPC)
  • Chairman of Oriental Petrochemicals Company (OPC)

References

  1. ↑ "Company Overview of Carbon Holdings" Bloomberg Businessweek. Retrieved 2014-7-21.
  2. ↑ "Egypt: Forward Forum Concludes on High-Note With New Commercial Partnerships"
  3. ↑ "Egypt, US companies partner on $3.5 bln petrochemical project" Daily News Egypt. Retrieved 2014-7-21.
  4. ↑ "Orascom Construction Industries Invests in Ammonia Plant" Market Wired. Retrieved 2014-7-21.
  5. ↑ "Egypt Hydrocarbon Company signs $454 million deal" Daily News Egypt. Retrieved 2014-7-21.
  6. ↑ "Egyptian banks back EHC" Project Finance International. Retrieved 2014-7-21.
  7. ↑ "GE, Carbon Holdings sign $500m technology cooperation deal" Arab News. Retrieved 2014-7-21.
  8. ↑ "Carbon Holdings' CEO Awarded AFRICA Entrepreneur of 2016 Award". Egypt Oil & Gas. Retrieved 2017-02-21.
  9. ↑ "Onspot EGVEST MainPage". Onspot EGVEST MainPage. Retrieved 2017-02-21.
  10. ↑ "Choiseul 100 Africa Economic Leaders for Tomorrow 2016". choiseul.info. Choiseul Institut. Retrieved 2017-01-18.
  11. ↑ "Presidential decree appoints board of trustees of "Tahya Misr" fund". ahram.org.
  12. ↑ "Committees Energy" AMCHAM. Retrieved 2014-7-21.
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