The Oil Ministry and the Chemical Industries Holding Company are planning to cooperate with Sidi Kreir Petrochemicals to establish a polypropylene factory in Alexandria with investments of up to USD 1 bn, Al Borsa reports. The factory is targeting an annual production capacity of 450 tonnes to cover around 50% of the market’s needs of polypropylene, chairman of Sidi Kreir Petrochemicals (SIDPEC) Osama Mahdy said.
SIDPEC is an Egyptian joint stock company established on 16 November 1997 Under Egyptian investment law. SIDPEC is considered the first integral step towards the petrochemicals future in Egypt. The trade name of SIDPEC polymers is named "Egyptene" polymer portfolio includes linear low density polyethylene (LLDPE) and high density polyethylene (HDPE).