Sidi Kerir Unit receives 5 offers for ethylene project

23-May-12
Egyptian Co. for Ethylene Production, a unit of Sidi Kerir Petrochemicals Co. (SKPC), received five offers for construction of a polyethylene plant, as per Al Mal. The company has government approval to obtain a bridge loan of US$240 mln, part of total loan finance of US$1.25 bln sought for the project. The plant, which will have a capacity of 400,000 tpa, will be built in the coastal city of Alexandria, Al Mal said. Egyptian Co. will sign in a few days an agreement with five local banks for the US$1.25 bln, including National Bank of Egypt, Commercial International Bank of Egypt, Arab African International Bank, Banque du Caire and Banque Misr.
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