ETHYDCO reports 34% YoY surge in revenues in 2023

The company achieved its production plan by 109% of the target as it produced 333,000 tons of polyethylene for the local and export markets

Staff Writer, Arab Finance

March 26, 2024

ENERGY EGYPT

PHOTO

The Egyptian Ethylene and Derivatives Company (ETHYDCO) has registered a 34% year-on-year (YoY) climb in its revenues in 2023, CEO Hesham Riyad announced during the firm’s general assembly that was virtually chaired by Minister of Petroleum and Mineral Resources Tarek El-Molla.

The company achieved its production plan by 109% of the target as it produced 333,000 tons of polyethylene for the local and export markets.

New markets were opened for the company's products in Ghana, Nigeria, Niger, Sweden, and Russia.

In 2023, ETHYDCO maintained its outstanding safety record, with about 72 million safe working hours.

Also, the company initiated the Safety Case project with 80% progress.

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