Minister of Petroleum and Mineral Resources Tarek El Molla has confirmed that the coming period will witness the implementation of a number of petrochemical projects that will achieve added value and sustainable development.

One of these important projects is the production of medium-density wood panels (MDF), in which the implementation rate reached about 97% in preparation for its entry into production.

El Molla’s remarks came during his presidency of the General Assembly of the Egyptian Petrochemical Holding Company (ECHEM) to approve the planning budget for the fiscal year 2024/25.

The minister noted that the petroleum sector succeeded in updating the national petrochemical plan until the year 2040, in accordance with the market requirements and its needs for petrochemical products and exporting the surplus.

El Molla stated that there is momentum and a global trend towards expanding green petrochemical projects. He pointed out that the Egyptian petrochemical sector has attractive investment opportunities in these projects in light of the economic reforms taken by the state. This is in addition to the availability of the necessary infrastructure, Egypt’s strategic location, and its proximity to producing and consuming countries.

During the meeting, Ibrahim Makki, ECHEM’s Chairman, reviewed the most important projects that aim to achieve high growth and operating rates.

Makki explained that the company attaches great importance to activities related to environmental protection, occupational safety and health programs, along with its expansion of petrochemical projects.

This included ECHEM’s keenness to monitor process safety indicators in its subsidiaries, and the growth of production rates in accordance with the best global environmental systems and practices followed to ensure safe operation and worker safety.