Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, visited the petrochemical complex of The Egyptian Ethylene and Derivatives Company (Ethydco) in order to follow up on the course of the production process of the complex, Egypt Oil&Gas reported. The complex is covering the local market needs of polyethylene and exporting the remaining to secure dollars.
The excellent performance of the complex, since it was launched, reflects the success of the oil sector’s strategy, which aims to boost investments in petrochemicals as it is an industry that adds value to the local economy, the minister said. He added that the project succeeded on the economic and environmental levels.
El Molla was accompanied by the First Undersecretary of the Ministry, Mohamed Taher, the Head of The Egyptian Petrochemicals Holding Company (ECHEM), Mohamed Saafa, the Head of Engineering for the Petroleum & Process Industries (Enppi), Mohamed Hatour, and the Head of Egyptian Maintenance Company (EMC), Wagih El Gaishy, among other oil and gas leaders.
During the visit, El Molla inaugurated a sustainable electricity power plant with 150 MW capacity in order to cover the complex’ demands of electricity. The plant was constructed by Enppi and EMC with total investments of as much as $98m.
The second phase of the power plant aims to establish a transform station with $23m investments and link it to national electricity grid to be an alternative electricity source for the complex. The station will transfer electricity surplus to the national projects and will be finalized in the fourth quarter of 2018, Ethydco’s Head, Saad Helal, pointed out.
Ethydco’s complex, which was launched in August 2016 by Egyptian President, Abd El Fattah El Sisi, has produced around 327,000 tons of ethylene and 268,000 tons of polyethylene so far.
The complex provided other companies in the oil and gas sector with 65,000 tons of ethylene, which reflects the integration between the sector’s firms. Additionally, the company has sold 221,000 tons of polyethylene as it provided local market with 87,000 tons and exported 134,000 tons to 25 countries.
Ethydco won an international prize for water recycling and for preserving the environment, Helal added.
Furthermore, Ethydco is committed to its corporate social responsibility (CSR) as it joined the campaign launched by ECHEM and Sidi Kerir Petrochemicals (Sidpec) to rationalize electricity consumption in Al Karnak, Abu Simble1, and Abu Simble2 through changing regular lighting bulbs with energy saving LED bulbs in 2,800 households,12 mosques, and a youth center.