Cairo – Mubasher: The Egyptian Petrochemicals Holding Company (ECHEM) is planning to implement a number of projects with over $1.63 billion in investments, the company’s chairman said.
The projects include the expansion of Sidi Kerir Petrochemicals Co (Sidpec) to produce propylene and its derivatives with a capacity of 450,000 tonnes per annum at a cost of $1.25 billion, Saad Helal said in a statement to the petroleum ministry on Monday.
The projects also included Egyptian Ethylene and Derivatives Company’s (Ethydco) polybutadiene production project with $105 million in investments and its second phase of the power station with $25 million in investments, Helal highlighted.
The company will also invest $190 million in Mopco’s shipping terminal project, as well as investing $60 million into Suez Co’s project for methanol production, he added.
This came on the sidelines of ECHEM’s ordinary general meeting headed by petroleum minister Tarek El-Molla to endorse the company’s budget scheme for fiscal year 2019/2020.
