Egyptian Petrochemicals Holding Co mulls 4 projects at an outlay of US$5 bln

20-Feb-17

The Egyptian Petrochemicals Holding Company (Echem) is considering setting up four projects to produce derivatives of propylene, ammonium, formaldehyde, and medium density fiberboard (MDF) at a cost of US$5 bln. Echem will join hands with consulting firm Technip to complete the technical and financial studies for the propylene production projects next month, Nouran Salah, business development engineer at Echem was quoted in the Daily News Egypt.
According to Salah, investments of the project amount to US$2 billion and will begin in Q2-2017. The company is now studying the ammonium, formaldehyde, and MDF projects, where it will assign a consulting firm to conduct the technical and financial feasibility studies within 3 months, and will take 12 months to be completed.