According to Egypt’s Ministry of Petroleum and Mineral Resources, $9 billion worth of new refining and petrochemical projects will be launched, including the expansion of Midor refinery in Alexandria, as well as a diesel production complex project at Assiut’s ANOPC.
Egypt’s petrochemical exports jumped 23 percent in 2022 to $8.6 billion compared to $7 billion in 2021.
The Ministry is undergoing a study and implementation of 11 new petrochemical projects from 2020 to 2035 with total investments worth nearly $19bn.
The petrochemical industry impacts the production of various daily-used products including medicines, construction materials, paints, plastic packaging, carpets and furniture.
The ministry recently added other projects including the Suez Petroleum Processing Company’s coking complex and diesel production and the condensate distillation project at Nasr Petroleum Company in Suez
Egypt doubled domestic production of petrochemical materials to more than 4.3 million tons annually by the end of 2021/2022.
Read: Saudi, Russia, extend voluntary oil production cuts in August
Silicon complex
Egypt started the implementation of the silicon production complex in New Alamein City, according to Tarek El-Molla, Minister of Petroleum and Mineral Resources, who announced this last May.
The project aims to have an annual production capacity of 45,000 tons and deliver silicon products and derivatives with the first phase of the project costing close to $172 million.
The value of the final product from Phase 1 is estimated to stand at $340 per ton.
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