Fea­si­bil­ity study of Al-Alamein Petro­chem­i­cals Com­plex to be com­pleted end of month

To­tal in­vest­ments of new projects com­pany cur­rently de­vel­op­ing is $12.5bn

The Daily News Egypt - - News - By Mo­hamed Adel

The Egyp­tian Petro­chem­i­cals Hold­ing Com­pany (ECHEM) is to fi­nalise the fea­si­bil­ity study for Al-Alamein Petro­chem­i­cals Com­plex by the end of this month.

A source at the com­pany in­formed Daily News Egypt that the study is be­ing pre­pared by an Amer­i­can com­pany, which will set the nec­es­sary in­vest­ments to im­ple­ment the com­plex.

He ex­plained that Al-Ala­main Petro­chem­i­cal Com­plex is one of the largest projects to be es­tab­lished dur­ing the com­ing pe­riod, on the com­pany land, with an area of 1,848 fed­dan.

The source added that the project has been stud­ied with the Egyp­tian Gen­eral Petroleum Cor­po­ra­tion (EGPC), as it will be a ma­jor share­holder in the project, since it will in­clude a re­fin­ery, to make use of the out­put of oil re­fin­ing, in the es­tab­lish­ment of petro­chem­i­cal in­dus­tries in the com­plex.

He pointed out that the lo­ca­tion of the new project is 9km away from Al-Hamra port, and is lo­cated near the crude oil trans­port lines, in the Western Desert.The in­vest­ment cost of the project is about $7.5bn.

The source said the Al-Alamin project will rely on 5m tonnes of crude oil per year, to out­put a pack­age of petro­chem­i­cal prod­ucts to cover the state’s needs, cut im­ports, and ex­port sur­plus.The project is ex­pected to be com­pleted by 2024.

The to­tal in­vest­ments of the new projects that the com­pany is cur­rently de­vel­op­ing is $12.5bn, with an out­put of 8m tonnes per year.

He added that there are also petro­chem­i­cal projects un­der study and de­vel­op­ment, namely the pro­duc­tion of propy­lene and its de­riv­a­tives; the pro­duc­tion of am­mo­nia and its de­riv­a­tives; the pro­duc­tion of formalde­hyde and its de­riv­a­tives; the pro­duc­tion of MDF, as well as the sec­ond phase of the project to in­crease the eth­ane ex­trac­tion from the West Desert, which will be im­ple­mented in the com­ing pe­riod.

The Min­istry of Petroleum has made great strides to­wards re­al­is­ing Egypt’s na­tional project to trans­form it into a re­gional cen­tre for gas and petroleum trade.

It is part of the pro­grammes of de­vel­op­ing and mod­ernising the petroleum sec­tor, through ben­e­fit­ing from Egypt’s strate­gic lo­ca­tion and the as­sets and in­fra­struc­ture that al­low oil and gas flow, with­out any tech­ni­cal ob­sta­cles.

This will there­fore con­trib­ute pos­i­tively to the coun­try’s eco­nomic de­vel­op­ment, and the de­vel­op­ment of the oil and gas mar­ket, by en­cour­ag­ing the par­tic­i­pa­tion of in­vestors from the pri­vate sec­tor.

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