Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that there is an ambition to support the petrochemical industry during the coming period as an added value industry that can positively reflect on the Egyptian economy.

The minister referred to two important ongoing projects which will help in preserving the environment. The first initiative is the medium-density fiberboard (MDF) production project in Idku at a capacity of 205,000 cubic meters per year depending on 250,000 tons of rice straw with investments of EUR 284 million. The other one is the methanol production project at a capacity of 100,000 tons annually from sugar beet molasses with investments of $112 million.

This is in addition to other modernization and development projects, involving a number of companies affiliated with the holding petrochemical company. El Molla stressed that all of these projects will be implemented according to the latest technologies as well as international standards. He noted that the trial operation of the new thermal cracking unit at the phenyl chloride plant is completed and will be on stream at the end of May 2022 which help raise the production capacity by 125%.

The minister also announced that Sidi Kerir Petrochemicals Company (SIDPEC) has successfully conducted major maintenance works during the last year which raised the production by 108% in addition to working with Nigeria’s Rangas to establish a petrochemical complex in Nigeria.

Moreover, the Egyptian Linear Alkyl Benzene (ELAB) company currently is implementing several projects which will increase the alkyl benzene production by 25%, he added. The minister urged continuous coordination and follow-ups to implement new projects as well as maintenance projects at the petrochemical companies to overcome the new challenges considering applying health, safety and environment (HSE) measures.