During the general assembly of the Egyptian Petrochemical Company in Alexandria for fiscal year 2022/23 chaired by Minister of Petroleum and Mineral Resources Tarek El Molla, Egyptian Petrochemical Company’s Chairman Ahmed Mowakea stated that the company achieved its highest production ever since its founding, as it produced about 82,700 tons of PVC products as well as its planned production of caustic soda by about 70,000 tons.
On the occasion of this meeting, El Molla emphasized that the interest in expanding and developing its production units comes to meet the needs of the local market and reduce the import of some products, such as PVC or polyvinyl chloride, which is used in the pipe industry.
He confirmed that the company, which is considered the first petrochemical production company and was established 40 years ago, had gone through a comprehensive development program for its factories and its work system, which led, within a short period, to bring about a positive transformation in the company and overcome the stage of challenges, which is reflected in the indicators of raising its production and operational efficiency.
Mowakea indicated that the company’s various factories have been developed and their production capacity has been increased, as the production capacity of the PVC production plant has increased from 23,000 to 80,000 tons and is being increased to 100,000 tons in the coming months.
The production capacity of the VCM production plant, or vinyl chloride monomer, also increased to 125,000 tons annually after introducing a new unit into service, pointing out that the company achieved total local sales worth about EGP 3.4 billion from caustic soda and PVC producers. It also exported to foreign markets worth more than $28 million.
The company worked to invest its unexploited assets, most notably the marine platform, which was agreed to be exploited with the PLS company and in coordination with the Egyptian General Petroleum Corporation (EGPC) to receive the raw material necessary for future expansions after the completion of the platform’s development.