02 January 2008 10:00 [Source: ICIS news]
DUBAI (ICIS News)--An unnamed Japanese company has proposed to the Egyptian Ministry of Oil an offer to build a $2.5bn ethylene cracker in the Doumyat area on the country’s east coast, a ministerial source said.
A delegation from the Japanese company would arrive in ?xml:namespace>
A Kuwaiti company had also proposed to the ministry a similar project and would provide a feasibility study, the source said.
Meanwhile, the Egyptian Petrochemicals Holding Company (ECHEM) has recently received the front-end engineering design (FEED) studies to facilitate an increase in ethylene production capacity at the Sidi Krir company from 300,000 tonnes/year to 600,000 tonnes/year.
The expansion at Sidi Krir was mooted after moves to sell a stake in the company failed because potential investors had demanded the government sign a 30-year contract to provide it with feedstock.
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|