Egypt’s Echem mulls four projects worth $5bn
CAIRO, February 19, 2017
The Egyptian Petrochemicals Holding Company (Echem) is considering setting up four projects to produce derivatives of propylene, ammonium, formaldehyde, and medium density fiberboard (MDF) at a cost of $5 billion, a report said.
Echem will join hands with consulting firm Technip to complete the technical and financial studies for the propylene production projects next month, Nouran Salah, business development engineer at Echem was quoted as saying in the Daily News Egypt report.
According to Salah, investments of the project amount to $2 billion and will begin in the second quarter of the current year.
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, she added.