The Egyptian cabinet approved establishing an offshore floating platform at Gameel area, West Port Said, to receive propane gas and liquefied propylene, Egypt Oil & Gas reports.

The cabinet further granted the Egyptian Propylene and Polypropylene Company the right to manage, operate and maintain the platform for 15 years.

The decisions were taken during the 116th meeting chaired by Prime Minister Sherif Ismail on April 11th.

Sidi Kerir Petrochemicals Company (Sidpec) has evaluated the six offers submitted to obtain licenses for establishing propylene and polypropylene factories as part of its new expansion project, Egypt Oil & Gas previously reported.

The company aims to obtain the necessary licenses for the factories from international companies.

Sidpec chose UOP International for the propylene factory license and Grace International Company to provide the polypropylene factory license.