By Rana Yehia
The Egyptian Petrochemicals Holding Company (ECHEM) will finish a study conducted to produce propylene by the end of this year.
ECHEM Vice-President Hussien Ismail said the project is worth $2bn in investments, but refused to reveal the names of the international offices that are currently studying this project.
ECHEM is due to finish the ethylene production project estimated at $1.9bn by the end of this year. Ismail told Daily News Egypt that the project will be operational by the end of this year, and will be funded by both the petroleum and banking sectors. A total of 460,000 tonnes of ethylene will be produced annually and provided to the local market.
The domestic and international petrochemicals industry provides the national economy with billions of dollars.
ECHEM is studying converting agricultural wastes to ethanol at a cost of investments at $200m to $300m, Ismail said, meaning the state will not need to import benzene.
He concluded that for every five tonnes of rice straw, one tonne of ethanol is saved, adding that different ministers have to cooperate to achieve this project.