Egypt's Echem invests $2bln in new projects

Echem raised petrochemical output to 4 million tonnes a year

  
Image used for illustrative purpose. The Mostord oil refinery in Cairo, May 6, 2008.

Image used for illustrative purpose. The Mostord oil refinery in Cairo, May 6, 2008.

REUTERS/Nasser Nuri

Cairo – Mubasher: Egyptian Petrochemicals Holding Company (Echem) has started implementing several petrochemical projects with investments worth $2 billion, Akhbar El-Yom reported on Wednesday, citing the company’s chairman Saad Helal as saying.

These projects include the establishment of Suez Company for Methanol Derivatives, as well as a company for producing propylene and polypropylene, another for butadiene, and a fourth firm for handling and storing methane gas, Helal added.

Since its establishment in 2002, Echem has managed to increase annual petrochemical output to the current 4 million tonnes from around 600 tonnes, he revealed.

Source: Mubasher

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