ECHEM adds 7 new projects to petrochemical plan
21 September 2020
Saad Helal, the Chairman of Egyptian Petrochemicals Holding Company (ECHEM), stated that his company is rapidly working on implementing seven new projects to the national plan for the period of 2020-2035.
He said that these projects include one by Wood Technology Company for producing medium-density fibreboard (MDF) wood which is being installed and implemented by Petrojet, a methanol derivative production project which produces a capacity of 140 tons per year and is worth USD 117M, and a project by the Egyptian Ethylene and Derivatives Company (Ethydco) for producing rubber polybutadiene at a capacity of 36,000 tons per year with costs USD 183M.
Helal added that the company is finalizing the procedures for the Al Alamein project which costs USD 7.5bn, in addition to a complex for medium and small industries relying on the production of Al Alamein complex. He explained that they are preparing a detailed feasibility study for the Suez refining and petrochemical project which is worth USD 7bn, clarifying that these two projects are targeting to produce diverse petrochemical and petroleum products to meet the local market needs and export the surplus.
The chairman mentioned that the company is intensifying the efforts to economically improve the petrochemical complex in Al Nahda at Alexandria which will raise the productivity of the petroleum companies there.