Minister of Petroleum and Mineral Resources Tarek El Molla said that the local production from the petrochemical industry reached 4.3 million tons at the end of the fiscal year (FY) 2021/22 compared to 2.1 million tons in FY 2015/16.

This came during his follow-up on a number of new petrochemical projects in order to accelerate the optimum usage of natural resources as well as help meet the needs of the domestic market.

According to a report received by the minister, a number of projects are being implemented currently in the frame of the country’s direction towards establishing sustainable projects targeting emission reduction and optimum usage of natural and mineral resources.

These projects include the medium-density fibreboard (MDF) plant, bioethanol, methanol derivatives, soda ash, and metallic silicon with investments worth $1.4 billion. The Wotech project which is being implemented in Idku, aims to produce 205,000 cubic meters of MDF annually to meet part of the needs of the local market and replace imports, in addition to contributing to reducing environmental pollution resulting from burning rice straw with investments worth EUR 284 million.

Additionally, the Egyptian Bioethanol Project in Damietta Port, which is being implemented by the Egyptian Bioethanol Company, aims to use molasses produced by local sugar companies to produce 100,000 tons annually of bioethanol to meet part of the needs of the local market while exporting the surplus with estimated investments of $112 million.

Moreover, the Suez Methanol Derivatives Company project is being implemented, which aims to maximize the added value of methanol with investments of $120 million, in the context of maximizing the added value and optimal utilization of the available resources to support the national economy. Also, the soda ash project is being implemented aiming to produce 600,000 tons of soda ash per year worth $650 million.

Besides that, the metallic silicon project is being implemented in Qantara East aiming to use 130,000 tons of ultra-pure quartz as a raw material to produce 45,000 tons annually of metallic silicon per year as a first stage, at an investment cost of $172 million.