Egyptian polyethylene producer Sidpec exports 90K tonnes, sales hit $338mn

The total sales of Sidi Kerir Petrochemicals Company-Sidpec in 2015 recorded around 3 billion Egyptian pounds (US$338 million), Chairman Osama Mahdy announced Tuesday.

Speaking to Amwal Al Ghad, Mahdy said that the Egyptian joint stock company has reached the maximum capacity in 2015 through producing around 224,000 tonnes of polyethylene to cover needs of local market as well as exporting.

He added that Sidpec exists in around 50 external markets notably in Europe and Asia.

Sidpec has exported 90,000 tonnes in 2015 and plans to keep its capacity and sales volume steady in 2016.

Chairman Mahdy clarified that Sidpec’s factories need around 500,000 tonnes of gas annually to operate with full capacity in coordination with petroleum ministry.