|10 December, 2019

USTDA funds feasibility study of petrochem project in Egypt

The facility will have an annual output capacity of about 50,000 tonnes

A truck drives in front of factory chimneys on the outskirts of Cairo, Egypt October 30, 2018.

A truck drives in front of factory chimneys on the outskirts of Cairo, Egypt October 30, 2018.

REUTERS/Mohamed Abd El Ghany

Cairo – The US Trade and Development Agency (USTDA) has signed a grant agreement worth $690,000 with the Egyptian Petrochemicals Holding Company (ECHEM).

The grant will be used to finance a detailed feasibility study of a polyacetal production facility, the first of its kind in Egypt and Africa, according to a statement on Tuesday.

At an investment cost of $400 million, the facility will have an annual output capacity of about 50,000 tonnes, using locally-manufactured methanol as a feedstock from Methanex Egypt in Damietta.

Source: Mubasher

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