Minister of Petroleum and Mineral Resources, Tareq El Molla, stated that the Egyptian Petrochemicals Holding Company (ECHEM) and the Egyptian Ethylene and Derivatives Company (ETHYDCO) plan to establish a new unit for coloring and granulating polyethylene with an investment that ranges from EGP 700 to 800 million with a production target of 60,000 tons per year, according to a press release.

The unit establishment plan comes within the framework of the ministry’s strategy to direct all the design, technical, technological and human capabilities of the petroleum companies to implement and participate in various national projects.

The new unit will provide colored polyethylene for the local market, sister oil companies, and various industrial institutions.

For his part, Mohamed Hassanien, Chairman of ETHYDCO, said that the establishment of the new unit comes in light of the increasing demand in the local market and the international markets as well as the high price of colored polyethylene. He also indicated that the new unit will maximize the use of the company’s resources represented in the available facilities, skilled labor, and the presence of the Polyethylene factory with a production capacity of 400,000 tons per year.