Engineer Abdullah Ghorab, the Minister of Petroleum and Mineral Resources, laid the foundation stone of the largest Polyester production project in the Middle East at the economic zone, North West the Gulf of Suez, Ain Sukhna. The project represents the last one in the first phase   projects of the National Petrochemical Master Plan, carried out by the Egyptian Petrochemicals Holding Company.

The Minister was accompanied by Major General Mohammad  Ali  Hashim, Governor of Suez and India's Ambassador to Egypt, Eng. Osama Saleh, Chairman of the General Authority for Investment and the leaderships of the Petroleum Sector.



The production capacity of the Egyptian-Indian joint project is 420 thousand tons per year of polyester, with investments of $ 160 million, to start operation, late December 2012. The Indian Company's, Dhunseri Petrochem Tea LTD, shares in the project represents 70%, the Egyptian Petrochemicals Holding Company with 23%, and Enppi with 7%.

During the visit, Eng. Osama Kamal, Chairman of the Egyptian Petrochemicals Holding Company reviewed first phase projects of the Petrochemicals Master Plan, which were completed and most of which were put on stream with total investments of LE 45 billion , to produce about 3 million tons per year of intermediate petrochemical products to meet the needs of the local market and export the surplus. He also reviewed the second phase pilot projects' of the plan to establish the Egyptian company for the production of ethylene and its derivatives in March, with investments of about $ 1.4 billion in Alexandria to start production within 3 years. He added that studies are underway for 5 mega petrochemical projects with investments of about LE 50 billion i.e. aromatics production complex, olefins project for the production of natural gas, home appliances, methyl project, the project of producing bio-ethanol from molasses and the project groupings of complementary industries, small and medium enterprises.