Oil Ministry, Sidi Kreir to establish USD 1 bn polypropylene factory

The Oil Ministry and the Chemical Industries Holding Company are planning to cooperate with Sidi Kreir Petrochemicals to establish a polypropylene factory in Alexandria with investments of up to USD 1 bn, Al Borsa reports. The factory is targeting an annual production capacity of 450 tonnes to cover around 50% of the market’s needs of polypropylene, chairman of Sidi Kreir Petrochemicals Osama Mahdy said.