The Egyptian government has geared up plans to build a major refining and petrochemicals project at Kafr al-Shaikh. The proposed complex, to be set up with an estimated investment of US$9.5 bln, is to refine crude oil and produce ethylene, propylene, polyethylene, ethylene glycol, styrene, and polystyrene, xylene and paraxylene. Investment for the complex is to be financed by local and international banks.
This complex is part of the Petrochemicals Master Plan that aims at establishing 14 petrochemical complexes with 24 projects and 50 production units. Egyptian Petrochemicals Holding Company (ECHEM) will implement the plan, which is aimed to provide a single window solution for investors aspiring to enter the petrochemicals sector to produce petrochemicals.
Currently, work towards implementation of the first phase of the Petrochemicals Master Plan is underway, which will be completed in 20 years. The US$750 million Egyptian Methanex Methanol plant, with a capacity of 1.3 million tpa of methanol, is one of the projects in the Master Plan that is already in the development stage.
03-Aug-06 
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