The new company, the establishment of a petrochemical complex in Al-Ameriya zone in Alexandria includes several projects for the production of ethylene and polyethylene and derivatives of butadiene, as well as the project facilities to provide the necessary facilities, the project will be implemented through the time frame of 36 months to produce 460 thousand tons per year of ethylene, depending on the ethane / propane complex Western Sahara Alexandria in order to maximize the added value of the Egyptian natural gas.
The ethylene product is used for the production of 400 thousand tons per year of various types of polyethylene and about 20 thousand tons per year of butadiene derivatives, and these products are used in the manufacture of synthetic rubber, pipes and electrical appliances, leather, home appliances and toys.
The project is directed 60 thousand tons of ethylene to produce 300 thousand tons per year of styrene by the company Alastairnques substitute for styrene importer in order to engage in several complementary industries for the production of automotive accessories, building and construction and packaging materials, insulation and medical supplies.
The contribution of the national capital 100% in the new company represented in the petroleum sector companies (Egyptian Petrochemicals Holding - Sidi Krier Petrochemicals - GASCO), and a group of national banks (National Bank of Egypt - National Investment Bank - Bank of Egypt - Nasser Social Bank) is financing by national banks increased by 100% which includes the National Bank of Egypt, Banque Misr, Commercial International Bank and National Societe Generale Bank and Arab African Bank worth up to $ 925 million, also contributes to this project is to provide 10 thousand jobs directly and indirectly