A press release to Egypt Oil&Gas stated that Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, received Dow’s President for the India, Middle East, Africa and Turkey (IMEAT) region, Jim McIlvenny, in the presence of the Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), Mohamed Safaan.
The meeting came in the light of the ministry’s plan to attract foreign investments in the petrochemicals industry. During the Meeting, El Molla pointed out that the Egyptian petrochemicals industry is very promising, as it provides the international markets with high level products that have a distinct economic and industrial return. In addition, he mentioned that Egypt has many investment opportunities in the petrochemicals industry.
From his side, McIlvenny expressed his interest in the available opportunities to invest in the Egyptian petrochemicals industry, which is currently achieving good results. He also highlighted the importance of petrochemical projects in the light of Egypt’s objective to be a regional energy hub.