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27 August 12:00 AM

Egypt's SIDPEC output hits 413,000 tons per year - ministry

The production capacity of Egypt's Sidi Kerir Petrochemicals Company (SIDPEC) rose to about 413,000 tons per year, the Egyptian Petroleum Ministry said, considering this as a cogent proof of the success of the ministry's plans for realizing development and increasing production.

In a statement, the ministry has an ambitious program for upgrading refining and petrochemical industries within the framework of ongoing efforts to  refurbish the petroleum sector.

The program is meant to boost petrochemical production capacity and magnifying the benefit of local petrochemical products, Petroleum Minister Tareq El-Molla said.

Molla made the remarks while inspecting work at SIDPEC in Alexandria and the measures adopted so far to carry out planned expansions in SIDPEC to produce propylene and polypropylene at $ 1.2 billion with 500,000 tons annual production capacity of propylene and 450,000 tons of polyproplene.

During the inspection tour, the minister stood on the company's role in catering for local production needs as about 70% of the firm's production goes for local consumption and 30% is exported. Exports of polyethylene, mostly to European markets, stood at about 65,000 tons annually.

The minister noted that the new SIDPEC project for producing propylene and polypropylene will contribute to realizing the optimal use of natural gas derivatives that have a high economic value, thus enhancing the petrochemical industry in line with the ministry's strategy.

The feasibility study for the project was finalized and SIDPEC will sign a licence contract with GRACE company to give the go-ahead for the production of polypropylene project in 2022.

SIDPEC has inked a contract with Egyptian Natural Gas Company (GASCO) to supply it with the main feeder for the project, the ministry said, adding that the company has signed another contract with the Egyptian Ethylene and Derivatives Company (ETHYDCO) to supply it with electricity.

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