The Polyester Producing Company, subsidiary of the Egyptian Petrochemicals Holding Company, exports 270,000 tonnes per year of polyethylene terephthalate (PET) while 150,000 tonnes of the product are provided to the local market, according to an official of Egyptian Petrochemicals Holding Company.
He pointed out that the company, operating in an economic zone in the northwest of the Gulf of Suez, produces 1,167 tonnes of polyester per day and is operating at full production capacity after trial operations were completed last February.
The company came into operation last May and total investments amounted to $260m, the official said.
Donsiry of India company contributes to about 70% of the company, the Egyptian Petrochemicals Holding Company about 23% and Enppi about 7%, according to the company official.
PET is used to produce plastic bottles for drinking water and foodstuffs as well as pharmaceuticals packaging. The company will provide the necessary raw materials for Egypt’s packaging industry domestically, eliminating the need to import from abroad.
This is one of the most recent projects associated with the first phase national plan to develop the petrochemicals industry.