Toyo Engineering Bags Contract for Ethylene Plants in Egypt

摘要

Tokyo, Japan: Toyo Engineering has jointly bagged with the Engineering for the Petroleum & Process Industries, a contract to build a 460,000 mt/year ethylene plant at Cairo, and a 20,000 mt/year butadiene extraction plant at Alexandria, Egypt. The contract, which is valued at about USD 600 million, was awarded by the Egyptian Ethylene and Derivatives Co (Ethydco). According to the Egyptian Ministry of Petroleum, Cairo, the Egyptian Petrochemical Holding Co has 40 per cent stake in the project, Sidi Kerir Petrochemicals (Sidpec; Alexandria) holds 30 per cent stake and Abu Dhabi Gas Industries (Gasco) holds the remaining 30 per cent stake. Sidpec is planning an ethylene plant in Egypt. The plant is scheduled for start-up in early 2015.