Thailand’s Indorama acquires 50% stake in EIPET from India’s Dhunseri
Thailand’s Indorama signs acquisition agreement with India’s Dhunseri for EIPET’s Ain Sokhna facility, 50% stake in EIPET: Indorama Netherlands BV, an indirect subsidiary of Thailand’s Indorama Ventures, signed on Thursday an agreement with India’s Dhunseri Petrochem to acquire a chunk of the Egyptian Indian Polyester Company’s (EIPET) polyethylene terephthalate (PET) plant in Ain Sokhna. The […]
Sidpec, Honeywell UOP sign contract for polypropylene plant
Sidi Kerir Petrochemicals (Sidpec) has signed a licensing agreement with the US-based Honeywell UOP to set up a new polypropylene plant at Sidpec’s complex in Alexandria. The agreement was signed by Sidpec’s chairman Mohamed Abadi and Honeywell UOP’s Middle East general manager James Moshi. This comes as a part of the company’s project to boost […]
Thyssenkrupp eyes work on 5 refining, petrochemicals projects in Egypt
Egyptian Petroleum Minister Tarek El-Molla has met with the Chairman of the German-Arab Chamber of Industry and Commerce (GACIC) Ulrich Hermann and representatives of German multinational conglomerate ThyssenKrupp. ThyssenKrupp is willing to collaborate with the Egyptian companies operating in the field of petrochemicals such as Engineering for the Petroleum & Process Industries (Enppi), Petrojet, and […]
Afreximbank to lend Egypt $1.5 billion for oil, petrochemical projects
It is part of $10 billion loans to Africa and covers oil, petrochemicals and other sectors. The African Export-Import Bank (Afreximbank) intends to provide a loan of $1.5 billion to Egypt to fund various projects including oil and petrochemical projects, its President has said. The Cairo-based Bank finances and promotes intra- and extra-African trade. The […]
India’s Dhunseri looks for a partner for Egypt joint venture EIPET
Chandra Kant Dhanuka owned Dhunseri Petrochem is looking to rope in a strategic equity partner for its Egyptian venture. The move follows full repayment of the joint venture Egyptian Indian Polyester Company S.A.E (EIPET) outstanding dues and scaling up its holding to 93 %. The company on Friday said it has paid $ 87 million […]
India’s Dhunseri Petrochem buys ECHEM’s stake in Egypt joint venture
India’s Dhunseri Petrochem has bought the Egyptian Petrochemicals Holding Company (ECHEM)’s share of their joint venture, the Egyptian Indian Polyester Company (EIPET), according to a regulatory filing by Dhunseri on the Bombay Stock Exchange. Dhunseri will buy ECHEM’s 23% stake in EIPET in seven installments over the next four years. The company did not disclose the […]
Egypt’s PM discusses oil & gas cooperation with ADNOC chief
Egypt’s Prime Minister Sherif Ismail met yesterday with the head of the Abu Dhabi National Oil Company (ADNOC) Sultan Jaber, according to a Cabinet statement. The two discussed oil and gas cooperation, as well as increasing Emirati investments in Egypt’s oil refining, petrochemicals, and LNG sectors. (Source: Enterprise.press)
Toyota Tsusho discusses investment in Egypt’s petrochemical sector
The Japanese Corporation discussed participation in hydrocarbon cracking for diesel fuel project at the Assuit Oil Refining Company (ASORC) plant, with investments worth $1.9 billion, says El-Molla. Minister of Petroleum and Mineral Resources Tarek El-Molla revealed in a press statement on Tuesday that he discussed with a delegation from Japan’s Toyota Tsusho Corporation the possibility […]
SIDPEC selects Honeywell UOP, W.R. Grace to construct propylene, polypropylene factories
Sidi Kerir Petrochemicals (SIDPEC) has selected Honeywell UOP and W.R. Grace & Co to construct its planned propylene and polypropylene factories, respectively, SIDPEC announced yesterday, Al Shorouk reports. SIDPEC had received six offers for the licenses to construct the factories. The propylene facility has a targeted production output of 500k tonnes per annum, while the […]
El Molla discusses with Italy's Maire Tecnimont increasing Egypt investments
Oil Minister Tarek El Molla has met with Italian engineering and construction firm Maire Tecnimont’s Chairman Fabrizio Di Amato and CEO Pierroberto Folgiero to discuss cooperation on new petrochemical projects, Al Mal reports. The talks also covered expanding projects in Sidi Kerir and Suez. (Source: Enterprise.press)
