Oil Ministry: New petrochemical projects in Al Alamein worth dlrs 7.5 bn
Tuesday، 15 September 2020 - 09:12 PM
The Egyptian Petrochemicals Holding Company (ECHEM) said measures are currently underway to finalize Al Alamein Petrochemicals Complex with investments estimated at dlrs 7.5 billion in addition to a small and medium-scale industries complex. The company explained the feasibility studies have been conducted for a project of Suez Refining and Petrochemicals with investments estimated at dlrs 7 billion to meet the local market needs and export the surplus.
During the meeting of the ECHEM's general assembly to approve the financial results of the 2019/2020 fiscal year, Minister of Oil and Mineral Wealth Tarek el Mulla asserted the importance of developing the national plan of petrochemicals in light of recent developments in this sector. He praised the support of the political leadership and government in backing this vital sector despite the challenges besetting it and in light of instability of the world market.