A contract between the Egyptian Styrene & Polystyrene production company (E.Styrenics) and the British New Perspective was signed Friday for supplying styrene material for industrial purposes.
Minister of Petroleum and Mineral Resources Tarek el Molla, chairman of the Egyptian Petrochemicals Holding Company (ECHEM) Mohamed Saafan and the CEOs of the two companies witnessed the signing ceremony.
Under the deal, the UK will supply Egypt with 100,000 tons of styrene material annually to produce polystyrene.
The agreement is renewable on annual basis.
El Molla said the purpose of the contract was re-operating the petrochemical factory in Alexandria – which produces polystyrene – after a year of hiatus.
The move aims at meeting the needs of the domestic market and exporting the surplus, especially as the polystyrene is the main raw material in many small and medium industries.