Minister of Petroleum and Mineral Resources, Tarek El Molla has chaired the founding assembly meeting of  the Egyptian Company for Bioethanol that will be established on the land of the Egyptian Petrochemical Holding Company (ECHEM) in Damietta Port at a cost of about $ 100 million, a press release stated.

The company that represents one of the important new projects in the petrochemical industry is planned to produce bioethanol with a capacity of 100,000 tons annually to meet the local needs and export the surplus.

It is worth noting that Bioethanol is used to manufacture a myriad of materials in different fields including but not limited to medical and chemical products such as inks, paints, and disinfectants. It can also be used as a raw material in the production of many chemicals such as acetic acid, acetaldehyde, acetone, ethyl acetate, ethylene and others, in addition to the production of Carbon dioxide.