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The EPP, located in Port Said, is the largest and only integrated Propylene and Polypropylene producer using propane dehydrogenation in Egypt and North Africa, the carpet manufacturer said in a bourse disclosure on Monday.
The company has the capacity to produce 350,000 metric tonnes of polypropylene each year.
It exports 70-80% of its production, which means it generates a steady stream of USD-denominated, tax-exempt cash flow thanks to its free-zone status.
In 2020, Oriental Weavers Carpet logged EGP 1.11 billion in consolidated net profits, down from EGP 855.07 million a year earlier, including minority shareholders’ rights.
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