FINANCIAL NEWS

ECHEM considering implementation of four projects worth USD5b

19 Feb 2017

(MENAFN) According to the Egyptian Petrochemicals Holding Company (ECHEM), it is considering the implementation of four projects to produce derivatives of propylene, ammonium, formaldehyde, and medium density fiberboard (MDF) with investments amounting to USD5b.

An official from the company said that ECHEM will complete the technical and financial studies for the propylene production projects next month, in cooperation with the consulting firm Technip.

Also she said that the company is now studying the ammonium, formaldehyde, and MDF projects, where it will assign a consulting firm to conduct the technical and financial feasibility studies within 3 months, and will take 12 months to be completed.

Moreover, these projects bring back annual revenues of up to USD3bn, with a capacity of 5 million tones of petrochemicals.

MENAFN1902201700450000ID1095252929

MENAFN1902201700450000ID1095252929

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