MOSCOW (MRC) -- Egypt has proposed three petrochemical projects to the UAE for a total investment of USD540 mln, according to a senior official at the Ministry of Petroleum, said Plastemart.
The projects included establishing a factory to produce bio-ethanol from molasses, the output of which would reach 100,000 tons of molasses annually, with investment in the project totaling USD250 mln. The project would be implemented in the next fiscal year (FY), according to the ministry’s plan.
Another proposal focused on building a plant for production of bio-ethanol from rice straw, with annual capacity of 100,000 tons of rice straw. The investment in this project would be USD240 mln and would be implemented through the FY 2016-2017.
The third project would increase polyvinyl chloride (PVC) production, used in making pipes, with the target implantation date as FY 2016-2017. Close to 40,000 would be produced annually, while the investment in the project is estimated at USD50 mln.
The UAE has expressed its willingness to invest in the petroleum sector and is currently evaluating which project to go forward with in the coming period.
As MRC wrote before, Toyo Engineering has been jointly awarded with ENPPI, an engineering company under the Egyptian Ministry of Petroleum, a contract to build a 400,000 tpa polyethylene plant in Egypt. The new facility will be a part of Ethydco's petrochemical complex to be established in Alexandria, the Arab Republic of Egypt, and owned by ETHYDCO (The Egyptian Ethylene and Derivatives Company) under the investment law No. 8/1997 of Egypt. This will be the largest polyethylene plant in Egypt.
MRC