Petroleum Minister Tarek el Mulla on Thursday 14/06/2018 signed a contract licensing the establishment of a propylene plant at Sidpec complex in Alexandria.

The move is a part of a project meant to increase the production capacity of the complex that targets producing 500,000 tons of propylene and 450,000 tons of Polypropylene (PP), with total investments of dollars 1.2 billion.

The agreement was signed by Sidpec’s chairman Mohamed Abadi and Honeywell UOP's Middle East general manager James Moshi.

The new project represents integration between oil firms in terms of maximizing the added value of propane, which is being produced at Egyptian Natural Gas Company’s (GASCO) Western Desert complex, Minister Molla said in a statement.

Sidpec is projected to sign the licensing agreement of the polypropylene plant in the coming period, the minister added.

The ministry’s strategy aims to boost the production capacity of the Egyptian petrochemical industries along with benefiting from its products domestically, he went on to say.

MENA