By Ahmad Abu El-Hamd
The Ministry of Petroleum and Mineral Wealth has said that measures have been started to take for implementing 4 new petrochemical projects with investments exceeding USD one billion, to maximise the added value of the locally available raw materials instead of exportation, and achieve the utmost integration with already existed projects.
The new projects includes a project for the production of propylene and its derivatives in Alexandria. Its investments are estimated at about USD one billion, and implemented by Company ‘SIDPEC’. Also, it includes a project for the production of Formaldehyde and its derivatives. Its investments are estimated at USD one billion, and its detailed feasibility studies are prepared by Suez petroleum Services Company (SUPSC). In addition, a project for the production of resins (adhesives). Its investments are estimated at EUR 56 million and a project for the production of Ammonia and its derivatives with estimated investments at USD 175 billion.
