Sidpec buys land for new propylene and polypropylene plant expansion

Sidi Kerir Petrochemicals Company (Sidpec) has signed the final contract to purchase a land plot from Alexandria Fiber Company to expand its new propylene and polypropylene plant, the Oil Ministry said in a statement. The value of the contract was not disclosed. We reported last October that Sidpec was in talks with local banks for a loan of USD 1.2 bn to finance the plant’s expansion and achieve a final production capacity of 450k tonnes.