Ethylene producer Ethydco targets $600mn sales in Egypt

The Egyptian Ethylene and Derivatives Company (Ethydco) targets its sales volume to record US$600 million during a year from starting operation, marketing general manager Ahmed Abouzeid said Saturday.

Speaking to Amwal Al Ghad, Abouzeid stated that the company is expected to start operation during the second quarter of 2016.

Abouzeid announced that Ethydco intends to enter 40 export markets in Europe, Asia, and Africa through a network encompassing 9 offices.

Egyptian Ethylene and Derivatives Company agreed to provide the Egyptian Styrene and Polystyrene Production Company- E-Styrenics with 60,000 tonnes of ethylene per year.

Ethydco is expected to start producing rubber during 2017, manager Abouzeid said.