Sidpec subsidiary receives five offers for setting up Polyethylene plant

28-May-12
The Egyptian Ethylene and Derivatives Company (ETHYDCO), a newly-established subsidiary of Sidi Kerir Petrochemicals Company (Sidpec), has received five offers for setting up a 400,000 tpa polyethylene plant, as per Fibre2fashion News Desk. The company has sought an amount of US$ 1.25 billion in loans for the project, out of which the Government has already approved a bridge loan of US$ 240 mln for construction of the new plant. ETHYDCO is expected to sign an agreement with five different banks shortly, for US$ 1.25 billion loan amount- Banque du Caire, National Bank of Egypt, Banque Misr, Arab African International Bank and Commercial International Bank of Egypt.
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