The Minister of Petroleum, Tarek El-Molla, inspected the situation of implementing the new projects and expansions of SIDPEC and Midor.
According to Mosaad El Kasaby, the chairperson of SIDPEC, the project of the new “propylene derivatives complex” expansion is underway with investments of $1.2bn to produce 500,000 tonnes of propylene and 450,000 polypropylene.
El Kasaby pointed out that the project is an investment of the current increase in the production of natural gas, and the fruitful integration between companies and entities in the oil sector.
Furthermore, he added that SIDPEC has provided the local market needs of ethylene and polyethylene products, and exported the surplus in order to provide foreign currency to meet the needs of the market and support the national economy.
“The investment cost of Midor’s expansions is estimated at $2.3bn,” said Gamal ElKareish, chairperson of the company.
He pointed out that the project aims to increase the production capacity of the plant by 60%, and Petrojet is currently preparing the land of the site where construction will take place, as engineering designs of the location are almost finished, in cooperation Enppi and Technip. Petrojet is also working to overcome the challenges of the new expansion, most importantly, connecting the existing units to the plant and the new units.
ElKareish highlighted that a contract will be signed with Midor Electricity this week to provide the required electricity for the plant.
Throughout the inspection tour, El-Molla held a meeting of the higher refining committee during which he discussed several projects to increase the refining capacity. He started the meeting by reviewing the situation of the work progress in the hydrocracking project of mazut in Assiut, which is implemented by the Assiut National Oil Processing Company (ANOPC) to secure the needs of Upper Egypt.