Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, emphasized the central role of petrochemicals in supporting both the Egyptian economy and citizens’ daily lives during the General Assembly of the Egyptian Ethylene and Derivatives Company (ETHYDCO).
“Petrochemical products are an essential component of countless industrial applications and consumer goods. They contribute not only to improving quality of life but also to strengthening the economy through export growth, import substitution, and the supply of raw materials for multiple industries,” the Minister said.
The meeting, held to review ETHYDCO’s 2024 performance results, was attended by sector leaders and company executives. ETHYDCO, one of the largest petrochemical complexes in the region, produces polyethylene used in vital industries including gas and water piping, packaging, medical supplies, and various manufacturing applications.
Badawi underscored the importance of adopting a medium-term strategy for natural gas utilization, noting its abundance of derivatives and critical role as a feedstock for petrochemical projects. He also stressed the need for innovation and advanced technology to enhance the competitiveness of Egyptian products in international markets.
Highlighting safety achievements, the Minister praised ETHYDCO for implementing world-class process safety systems, earning it the ninth position globally in an international assessment conducted by DNV, a leading quality assurance and risk management organization.
On the company’s performance, Chemist Hesham Riad, Chairman of ETHYDCO, reported that the firm achieved 100% of its 2024 production plan, with 314,000 tons of ethylene and 330,000 tons of polyethylene. These outputs generated EGP 7.9 billion in local market sales and $211 million in export revenues.
Riad noted an 8% increase in local market sales alongside significant growth in international markets. ETHYDCO’s exports reached 35 countries, with Europe and Turkey remaining core destinations, while sales to Latin America surged by 130%. The company also prioritized expansion in African markets, while maximizing the value of secondary products for both domestic and global sales.
The Minister concluded by reaffirming the strategic role of petrochemicals in Egypt’s energy and industrial future, positioning the sector as a driver of growth, innovation, and global competitiveness
