(MENAFN- Daily News Egypt) 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.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.