Egypt invests $22.52mln in petrochemical products in 2019/20

The production rates of petrochemical products recorded 88,000 tonnes

  

Cairo -  The total value of Egypt's investments in petrochemical products reached EGP 355 million in fiscal year 2019/2020, the head of the Egyptian Petrochemicals Company (EPC), Mohamed Abdel Aziz, announced on Sunday.

Abdel Aziz said that the production rates of petrochemical products recorded 88,000 tonnes in FY19/20, including 42,400 tonnes of sales of PVC products and 33,700 tonnes of liquid caustic soda sales at a total value of EGP 510 million, according to a press release on Sunday.

The head of EPC added that PVC products and liquid caustic soda were exported to Italy, Portugal, Cyprus, Greece, Brazil, Morocco, Jordan, Syria, Sudan, and Algeria with a value of around $17 million.

In addition, Abdel Aziz referred that several projects were implemented to raise the PVC production capacity to 200,000 tonnes annually from 80,000 tonnes.

This announcement was made during ordinary general meetings, headed by Egypt's Minister of Petroleum and Mineral Resources Tarek El Molla, to approve the financial results of FY19/20 for Alexandria Petroleum Company (APC) and Al Amreya Petroleum Refining Company.

Source: Mubasher

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