Wednesday, Aug 24, 2011
BEIRUT (Zawya Dow Jones)--State-owned Egyptian Petrochemicals Holding Co., or Echem, plans to invest some 75 billion Egyptian pounds ($12.54 billion) in projects locally, Cairo-based Al Ahram daily reports Wednesday citing an executive.
The investments aim to maximize the added value of the country's crude oil and natural gas sectors, Mahmoud El Sobki, an assistant to the company's president, said according to the paper.
Echem plans to set up local plastic manufacturing complexes, the daily cites El Sobki as saying.
Newspaper website: http://www.ahram.org.eg/Economy/News/97051.aspx
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
24-08-11 0636GMT
