Friday, 11 December 2009

Egyptian Petrochemical exports could decline by 40% in 2009

Pyramids at sunset, Giza.
Egypt's chemical industry could suffer a 40% decline in exports in 2009, according to a new forecast by Business Monitor International. The surprise for me in this story is that Egypt even has an established petrochemical industry. It is not an area which we at ICIS cover very strongly at present. According to the report there are several chemical project in this region which I was not aware of.

Here is an excerpt:
"BMI expects PP capacity to rise to 820,000 by 2013. We do not believe Egypt Hydrocarbon Corporation's (EHC) proposed complex near Suez - which would have two plants capacity of 450,000 tpa each, producing HDPE and LLDPE alongside a cracker and ammonia, ammonium nitrate, and methanol plants - will come online by 2013, even if it does manage to secure financing by 2010. Similarly, it is doubtful that GAFI's bid for foreign investment in a US$200mn PVC plant with a capacity of 120,000 tpa and a US$150mn PS plant with a capacity of 200,000 tpa will materialise in time for them to come onstream by the end of the forecast period."

Download a list of Egypt chemical plants from ICIS plants and Projects here.
Download a list of Egypt chemical projects from ICIS plants and projects here.

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