Ethydco at the Egypt International Conference and Exhibition EGYPS 2023 Outstanding presence and Effective participation
In a global event that is annually held, sponsored by His Excellency President Abdelfattah El – Sisi in the presence of His Excellency Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, and with the wide participation of international and local Petroleum and Energy Ministers, heads and leaders of international and local companies, international petroleum and gas organizations, decision makers and petroleum industry experts, the sixth edition of Egypt International Conference and Exhibition EGYPS 2023 took place. That is the most important and largest event for the petroleum and gas industry in North Africa, the Mediterranean and the Middle East.
In this huge international gathering, and amid the presence of 41 worldwide companies, 28 local companies, 500 exhibitors and more than 12 international wings, The Egyptian Ethylene and Derivatives Company ETHYDCO has been among the largest in the world in more than one field and it has been keen on being present in this international event since its first edition was launched in 2017.
ETHYDCO participated in this year's activities in the presence of Engineer Mohamed Abdel Moniem Saleh, ETHYDCO chairman, chairman assistants, several directors, and young leaders.
Being an outstanding conference and exhibition, it has become an outlet for the petroleum sector and its companies and the gateway to the Egyptian market, one of the most promising markets. The exhibition witnessed signing contracts renewal with 4 major distributers of ETHYDCO products worldwide.
In this year's exhibition, ETYHDCO's pavilion was distinguished regarding the design, presentation, and content. It included printed materials that highlighted the achievements fulfilled over the past years and the company highlighted the most important features of its future plans.
A few documentaries were also presented about the company's products. They introduced the company, its developing stages in addition to several illustrations about its activities in the field of social responsibility and developing the surrounding communities and people especially in the fields of health, education, decent life initiatives as well as ETHYDCO's efforts in the field of reducing gas emissions and sustainable energy.
ETHYDCO's pavilion witnessed a great turnout by the exhibition visitors, several petroleum sector leaders, companies’ heads, and participants in the works of EGYPS sixth edition. What grabbed attention was the huge turnout from the side of students and youth as they posed many questions and queries about the Egyptian Petrochemicals industry.
ETHYDCO chairman, Engineer Mohamed Abdel Moniem gave thanks to Engineer Tarek Elmolla, Minister of Petroleum and Mineral Resources on behalf of ETHYDCO staff for his continuous support which had the greatest impact on reaching the achievements ETHYDCO has fulfilled despite the world economic conditions which were forced by the Russian – Ukrainian war and its consequences. The company successfully achieved its production plan during the year 2022 as the Ethylene production reached 324 thousand tons with 109% of the production plan, an increase of 50 thousand tons more than the previous year. The Polyethylene production reached 329 thousand tons with 108% of the production plan, an increase of 49 thousand tons more than the previous year.
In terms of sales, the company's sales of polyethylene products during the year 2022 have reached an amount of 505 million dollars including 220 million dollars in local market sales. The company's sales of other products reached an amount of about 15 million dollars. During the year 2022 the company has achieved 86.5 million dollars net profit which is equivalent to 2.6 billion Egyptian Pounds, an increase estimated by 16.7 million dollars more than the previous year which is equivalent to 24 % of last year's net profit.