Ethydco Approves 2024 Results, Achieves 100% of Its Production Plan and 38% Growth in Revenues

Tue, 19-Aug-2025

Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, affirmed that petrochemical products represent a fundamental pillar of the national economy due to their vital role in providing key inputs for a wide range of industries, boosting exports, substituting imports, and supplying essential materials for different sectors. He explained that these products are used in the manufacture of many daily life necessities, such as gas, water and sewage pipes, packaging and wrapping industries, plastic containers, and medical supplies.

This came during the General Assembly meeting of the Egyptian Ethylene and Derivatives Company (Ethydco) to approve the company’s results for the fiscal year 2024, in the presence of petroleum sector leaders.

A Clear Development Plan

The Minister directed the company to adopt a medium-term plan to maximize the utilization of locally produced feedstock, particularly natural gas rich in derivatives, while stressing the importance of innovation and technology in developing petrochemical products with high added value to enhance the company’s competitiveness regionally and globally.

During the meeting, Chemist Hisham Riyad, Chairman and Managing Director of Ethydco, delivered a detailed presentation on the key performance indicators achieved during 2024/2025 and the company’s future plans, aligned with the six pillars of the Ministry of Petroleum’s strategy.

He emphasized that these indicators confirm Ethydco’s growing capacity to adapt to market conditions, fluctuations, and challenges. Ethydco succeeded during the past year in seizing opportunities for growth, achieving outstanding performance, especially in developing its product portfolio, enhancing competitiveness, and advancing safety and sustainability measures. He praised the strong support provided by H.E. the Minister of Petroleum and Mineral Resources, the Egyptian Petrochemicals Holding Company (ECHEM), and all Ethydco employees whose dedication and professionalism serve as an exemplary model.

Key Achievements Presented by the Chairman
Chemist Hisham Riyad explained that Ethydco succeeded in:
- Achieving 100% of its production plan, with 314,000 tons of ethylene and 320,000 tons of polyethylene produced, generating total sales worth EGP 7.872 billion and USD 211 million.
- Increasing domestic sales by 8% and boosting revenues in Egyptian pounds by 38% compared to last year.
- Expanding exports, particularly to Latin America, with a 130% growth compared to 2023.
- Maximizing the value of by-products such as butadiene and raffinate by 116%.
Product Development and International Certifications

Launching a new product, steel pipe coating, to protect steel pipes from corrosion in collaboration with the private sector.
Obtaining the prestigious German SKZ certification for polyethylene products (PE100 and PE80), enabling their use in major infrastructure projects such as new cities and the national “Decent Life” initiative.

Safety and Sustainability

Implementing the Safety Case Project, becoming the first Egyptian company to apply it comprehensively.
Achieving the Level 7 Operations Management Certificate from the global classification body DNV, making Ethydco the first Egyptian company to reach this distinguished level, after previously securing Level 6 in 2020/2021.
Receiving the Environmental Product Declaration (EPD) certification for medium-density polyethylene to assess its carbon footprint throughout its entire lifecycle.

Digital Transformation and Capacity Building

Digitizing all activities related to safety and process safety management.
Enhancing the company’s ERP system and implementing an electronic permit-to-work system.
Activating competency-based programs and performance management systems to further develop human resources.

Business Sustainability and Future Projects

Progressing with the shale ethane gas import project, which includes three main axes: supply, reception and regasification, and gas pipeline infrastructure.
Receiving the Green Building Certificate for the company’s administrative building and preparing to implement a 500 kW solar power station to supply electricity to administrative facilities.

Corporate Social Responsibility
Ethydco continued to implement impactful community initiatives in health, education, and economic empowerment, including:

Establishing and equipping medical and healthcare facilities in Alexandria and Assiut.
Developing and rehabilitating facilities to support people of determination.
Renovating houses and financing small projects in Al-Ameriya villages.
Training 371 university students in the company’s plants.

Conclusion

Chemist Hisham Riyad stressed that the company’s remarkable achievements were made possible thanks to the unwavering support of the Minister of Petroleum and Mineral Resources, the Egyptian Petrochemicals Holding Company (ECHEM), and the sincere efforts of all Ethydco employees. He reaffirmed the company’s commitment to continuing its journey of development, innovation, and contribution to the national economy.