12 March 2008 08:56 [Source: ICIS news]
DUBAI (ICIS news)--The future plans of Sidi Krir Petrochemicals Co (Sidpec) include beginning work on the third phase of an ethylene project and a joint venture with global chemicals firm INEOS for a polyethylene (PE) facility, the Egyptian company said on Wednesday.
Meanwhile, for fiscal 2007, the company reported sales of Egyptian pounds (£E) 1.25bn ($228m) and exports of £E838m, the report added without disclosing further financial details.
Once it received necessary approval, Sidpec planned to invite tenders for the third phase of its ethylene project, it said.
It would soon begin test production at the second phase of its 300,000 tonne/year ethylene production facility, the report added.
A joint venture with global chemical company INEOS, involved the construction of the third phase of its PE facility, which will have an expected 200,000-300,000 tonne/year capacity.
Sidpec is Egypt’s sole producer of ethylene and propylene, with a combined production capacity of about 525,000 tonnes/year.
($1 = £E5.49)
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