Rashid Petroleum Company (Rashpetco) and Burullus Gas Company plan to increase the daily production capacity of natural gas to 320 million cubic feet in fiscal year (FY) 2024/2025.

The Egyptian Petrochemicals Holding Company (ECHEM) and the General Authority for Investment and Free Zones (GAFI) have signed a framework agreement with the UK-based Shard Capital to establish a $7 billion petrochemical production complex in New Alamein.

Minister of Petroleum and Mineral Resources Karim Badawi visited the Misr Fertilizers Production Company’s (MOPCO) complex in Damietta, the largest industrial facility for nitrogen fertilizers production in Egypt.

UK-based Shard Capital has proposed to establish a petrochemical complex in the industrial zone of New Alamein, with an investment estimated at $7 billion, Ministry of Petroleum and Mineral Resources Karim Badawi announced.

Egypt signed a shareholders agreement to establish the Alexandria Supply Chain Company, which will set up a permanent marine facility at Dekheila Port in Alexandria.

The Egyptian economic landscape is propelled by a diverse range of industries, with the chemicals sector playing a crucial role in driving exports and fostering economic growth. The chemical industry encompasses a vast array of sub-sectors, churning out a multitude of products. These products are not only essential for domestic use but also have a significant impact on Egypt's trade balance by reducing import reliance and maintaining its competitive edge in global markets.

The General Authority for Investment and Free Zones (GAFI) inaugurated the EUP Egypt petrochemical production plant in Sadat City, the first factory with 100% Vietnamese investments.

Minister of Petroleum and Mineral Resources Tarek El Molla met with Venezuelan Minister of Foreign Affairs Ivan Gil Pinto to discuss methods of strengthening cooperation in the fields of oil and natural gas and petrochemicals.

The governments of Egypt and Germany are mulling over ways of enhancing joint cooperation in the fields of green energy and petrochemicals.

Egypt’s petrochemical firm Carbon Holdings has recapitalized its loans worth $265 million with Africa Finance Corporation (AFC), the European Bank for Reconstruction and Development (EBRD), the International Finance Corporation (IFC), and Gulf Capital.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla has met with a delegation from the global petrochemicals producer Indorama Corporation to discuss potential investment opportunities in the value-added petrochemicals projects.

The Egyptian United Gas Derivatives Company (UGDC) and the Indian chemicals producer TCI Sanmar Chemicals have signed a memorandum of understanding (MoU) to boost TCI Sanmar's expansion plans in Egypt, with $150 million in investments.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla has inspected the new petrochemical projects at New Alamein’s city industrial zone.

Egypt is considering cooperation with India’s TATA Group in the fields of automotive and petrochemicals.

The Suez Canal Authority (SCA) has signed a memorandum of understanding (MoU) with Anchorage Investments to establish a petrochemicals industrial park in Ain Sokhna

Egypt’s exports of petrochemicals rose 23% year on year (YoY) in 2022 to $8.629 billion, compared to $7.033 billion.

The report also showed that Egypt’s exports of petrochemicals, chemicals, and fertilizers grew 45% year on year in 2021 to hit $6.7 billion, surpassing the Chemical and Fertilizers Export Council’s forecast of $5.8 billion. This growth in exports was driven by an uptick in the production of natural gas, in addition to higher prices, the report added.

Established in 1997 and listed on EGX in 2005, Sidpec operates within the materials sector focusing on commodity chemicals. It has subsidiaries operating across Egypt, working on textiles and oil and gas refining.