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Sisi Launches $1.9b ETHYDCO Petrochemical Complex

Sat, 13-Aug-2016

Ethydco

 

 

Egyptian President Abdel Fattah El Sisi launched the petrochemicals complex of Egyptian Ethylene and Derivatives Company (ETHYDCO) in Alexandria in mid-August with a total investment of $1.9b. The complex is set to operate with the capacity of 460,000 tons of ethylene, 400,000 tons of polyethylene divided into two production lines, a 200,000 tons/year LLDPE/HDPE swing line and a 200,000 tons/year HDPE line, and 20,000 tons of butadiene. ETHYDCO is one of the most important projects in the national plan for this promising industry.

ETHYDCO products will provide essential inputs in several complementary industries with maximizing the use of petrochemical raw materials and products locally instead of exporting.

The step comes in line with the Egyptian oil sector’s plans seeking to achieve country’s energy self-sufficiency.

The Egyptian Minister of Petroleum, Tarek El Molla, and PM, Sherif Ismail, attended the ceremony. Oil Minister El Molla said during his opening speech at the inauguration ceremony that the cost of producing petrochemicals is estimated at around $2.4 billion.

The Egyptian petroleum sector owns eight large petrochemicals projects with investments worth $7.4 billion and a total capacity of about 4.5 million tonnes per year.

He added that the Egyptian Petroleum Sector executes in total eight large petrochemical projects worth $7.4b with total capacities around 4.5mt/year of petrochemical products. The eight projects are located in four governorates of Port Said, Suez, Damietta, and Alexandria.