Egyptian president Abdel Fattah El-Sisi has inaugurated a new petrochemical complex in Alexandria for Egyptian Ethylene & Derivatives Company (Ethydco), according to local reports. A total investment of $1.9 billion was made in the complex which produces 460,000 t/y ethylene, 400,000 t/y PE and 26,000 t/y butadiene and is expected to supply 45% of the domestic market’s needs. The country is expected to save more than $500 million annually as a result.

Egypt’s Minister of Petroleum Tarek El Molla said that maximizing the use of petrochemical raw materials and products locally instead of exporting was a priority. Japan’s Toyo Engineering and ENPPI, an engineering company under the Egyptian Ministry of Petroleum, carried out engineering, procurement and construction of the project which is based on Lummus Technology’s proprietary ethylene process.

The project was part of the national petrochemical plan being implemented by the Egyptian Petrochemicals Holding Company, or ECHEM. The 20-year plan was announced in 2001.