SIDPEC Says New Petrochemical Complex in Alexandria Will Complete by 2015-end

Sidi Kerir Petrochemicals S.A.E. or SIDPEC (SKPC.CA on Egypt bourse) announced today Sunday that the new petrochemical complex of its subsidiary Egyptian Ethylene and Derivatives Company (Ethydco) will be completed by the end of 2015.

Ethydco’s new project will be established in El Nahda Industrial Zone in Alexandria’s Amreya, with US $ 2 billion in investments.

“The project is set to be on a space of 170 feddans, with USD 2 billion in investments through a consortium which includes the Egyptian petroleum sector and a number of national banks.” Eng. Ahmed El-Bordiny – Chairman and CEO of SIDPEC – said to Amwal Al Ghad on Sunday.

“The new petrochemical complex comprises multiple comprehensive plants to produce ethylene, polyethylene, butadiene and butadiene extraction.” He added