Egyptian Ethylene and Derivatives Company (Ethydco) achieved targeted production by over 100%, as it produced 381,000 tons of polyethylene and 19,000 tons of butadiene in 2018, Egypt Oil & Gas reports.

The company’s head, Abdel Meguid Hegazy, said that production contributed to covering local demand and exporting, which increases foreign currency returns, adding that Ethydco’s products have reached 56 countries, especially in West Africa and the Nile Basin.

Ethydco is preparing to establish a poly-butadiene complex with investments totaling $100 million, and an annual production capacity of 36,000 tons, as part of its expansion plans, since the product is essential to 12 industries, including vehicles and conveyor belts.

Hegazy’s remarks came during the company’s general assembly meeting, chaired by Minister of Petroleum, Tarek El Molla, to review the company’s 2018 results.