Japan's Toyo Engineering Corp and Egypt's Engineering for Petroleum and Process Industries will jointly construct a 400,000 tpa polyethylene plant in Alexandria, as per Platts. The joint contract is for US$400 mln and Egyptian construction company Petrojet is a subcontractor for the project. The plant, scheduled for a startup in early 2015, will be owned and run by Egyptian Ethylene and Derivatives Company (Ethydco). This will be the largest polyethylene plant in Egypt, and is a 100% Egyptian local investment. The plant will be part of a larger petrochemicals complex being built by Ethydco in Alexandria. Toyo is constructing a 460,000 m tpa steam cracker and a 20,000 tpa butadiene extraction unit for Ethydco at the complex.
The Egyptian General Petroleum Corp. is the principal shareholder in Engineering for Petroleum and Process Industries, or Enppi, owning 97% of its total shares.