Saad Helal, head of the Egyptian Petrochemicals Holding Company, said that a number of new projects are being studied within the updated national plan for petrochemicals 2020-2035 to maximize benefit from this industry and to invest in the elements currently available to this plan, foremost of which is the availability of the raw material represented in natural gas.
Helal added, during the work of the General Assembly to approve the results of the Egyptian Petrochemicals Holding Company for the fiscal year 2020-2021, that among these new projects are the Soda Ash project with investments of $420m, the production of metallic silicon and its derivatives, and the titanium dioxide project with investments of $300m, in addition to a study of other projects such as the production of biodegradable bioplastics planned for SIDPEC, the production of green naphtha from algae oil, and a project for the production of super absorbent polymers.
He confirmed in a statement to the Ministry of Petroleum that the petrochemical industry achieved a production rate of 4.34 million tonnes, and that the increase in production this year led to an increase in revenues by 43% over the target and 50% over the last fiscal year.
He explained that a number of new projects have been implemented, such as the medium-density wood panels project with investments of €217m, the Suez project for methanol derivatives with investments of $119m, the Egyptian project for the production of bioethanol with investments of $112m, and the project of the Red Sea Refining and Petrochemicals Complex with investments of $7.5bn to add petrochemicals of 3.7 million tonnes annually, along with the establishment of the El Alamein Petrochemical Complex Company, to be established with investments of $8bn to add 4.7 million tonnes of petroleum and petrochemical products annually.
He pointed out what is being implemented in the context of developing petrochemical companies to improve their economies and increase their production capacity, pointing out that the study of the Petrochemical Logistics Services Company project has been completed, as well as the completion of the renovation of the cells of the chlorine plant in the Egyptian Petrochemical Company and the developments of the company’s expansion project, as well as the rehabilitation of the VMC plant and the modernization of the PVC plant to increase its capacity to 200,000 tons annually. In the same context, Tarek El Molla, Minister of Petroleum and Mineral Resources, affirmed that the results achieved by the Egyptian petrochemical industry system, which is witnessing an increase in production and revenues in recent years, confirm that the work to develop and support all aspects of the system is on the right path, as all its indicators are about the results of the last fiscal year.
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