Minister of Petroleum and Mineral Resources Tarek El Molla has confirmed that the coming period will witness the implementation of a number of petrochemical projects that will achieve added value and sustainable development. El Molla’s remarks came during his presidency of the General Assembly of the Egyptian Petrochemical Holding Company (ECHEM) to approve the planning budget for the fiscal year 2024/25.
During the meeting, Engineer Ibrahim Makki, ECHEM’s Chairman, reviewed the most important projects that aim to achieve high growth and operating rates within the framework of the plan to develop the petrochemical industry in Egypt by establishing and promoting major projects. The projects include the project to produce medium-density wood panels (MDF), Al Alamein Petrochemical Complex, Soda Ash production project, North Abu Qir Agricultural Nutrients project, Green Ammonia production project, Methanol derivatives production project, Bio-Ethanol production project and the SAF sustainable jet fuel production project.
In this regard, he referred to the development of work in these projects, stressing Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, support to the petrochemical sector in implementing these projects, which will contribute to meeting the needs of the local market for specialized petrochemical products on which many complementary industries are based, as well as small and medium industries such as the manufacture of paints, adhesives, printing materials, rubber, textiles, plastic industries, and feed industries. For cars, antifreeze materials, glass, detergents, etc., and exporting the surplus of its various vital products, whether petrochemical or petroleum.
El Molla noted that the petroleum sector succeeded in updating the national petrochemical plan until the year 2040, in accordance with the market requirements and its needs for petrochemical products and exporting the surplus.
El Molla stated that there is momentum and a global trend towards expanding green petrochemical projects. He pointed out that the Egyptian petrochemical sector has attractive investment opportunities in these projects in light of the economic reforms taken by the state. This is in addition to the availability of the necessary infrastructure, Egypt’s strategic location, and its proximity to producing and consuming countries.
Makki explained that the company attaches great importance to activities related to environmental protection, occupational safety and health programs, along with its expansion of petrochemical projects.
This included ECHEM’s keenness to monitor process safety indicators in its subsidiaries, and the growth of production rates in accordance with the best global environmental systems and practices followed to ensure safe operation and worker safety.
