The Egyptian government’s perseverance with paying receivables to international oil companies (IOCs) will help the country to attract further investments, Chairman of the Egyptian Petrochemicals Holding Company, Saad Helal, has said, Amwal Al Ghad reported.

Speaking on the sidelines of the second Al Ahram Energy Conference, Helal also praised the ministry’s success in  establishing many petrochemical projects.

Petrochemical production was around 500,000 tons prior to 2002, but since establishing ECHEM production has increased to around 4.8 million tons, Helal pointed out.