The Egyptian petrochemicals industry will witness a leap in light of the new projects that are currently being executed with investments estimated at $8 billion.

Iran announced the commencement of building the project of Mahtab Parsian Petrochemical Plant which is implemented by Petrofarhang Petrochemical Holding Company.

China Petrochemical Corporation (Sinopec) has started the construction of carbon capture utilization and storage (CCUS) project in east project, the company announced on Monday.

Tarek El Molla, Minister of Petroleum and Mineral Resources, has agreed to raise Petrojet’s capital from EGP 3.6 billion to EGP 6 billion.

Prime Minister Mostafa Madbouly witnessed the signature of land allocation contract for establishing the largest refinery and petrochemical complex in Ail Al-Sokhna at the Suez Canal economic zone (SCZONE) with investments worth $7.5 billion.

Egypt will implement the Egyptian company for bioethanol to be established on the land of the Egyptian Petrochemical Holding Company (ECHEM) in Damietta Port with about $ 100 million, the press release stated.

State run Qatar petroleum (QP) has announced the successful integration of Petrochemical company SEEF Limited (SEEF).

Middle East Oil Refinery (Midor) has refined approximately 9.3 million barrels (mmbbl) of domestic and imported crude oil in Q1 2020.

The Saudi Arabian General Investment Authority (SAGIA) announced a number of new petrochemical investments worth more than $2 billion.

Egypt discusses cooperation with German technological companies to develop petrochemical and refining complexes.