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Sunday, 17 September 2017

USD 3 bn petrochemicals plant to begin production in 2021

USD 3 bn petchem plant to begin production in 2021. A USD 3 bn plant being built by the state’s Egyptian Petrochemicals Holding Company (ECHEM) in the Suez Canal Economic Zone is expected to begin production in 2021, ECHEM head Mohamed Saafan said on Friday, Al Mal reports. ECHEM is working with Toyota Tsusho to complete feasibility studies on the plant by 1Q2018. The plant will produce 3.5 mn tonnes of petroleum products per annum, in addition to 1 mn tonnes of polypropylene and ethylene derivatives, with some of the products slated for the local market and the remaining for exports. The government had announced plans to construct the plant in July.

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