{"id":564345,"date":"2021-08-25T13:39:49","date_gmt":"2021-08-25T13:39:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/look-out-methanex\/"},"modified":"2021-08-25T13:39:49","modified_gmt":"2021-08-25T13:39:49","slug":"look-out-methanex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/look-out-methanex\/","title":{"rendered":"Look out Methanex"},"content":{"rendered":"

<\/a> The Oil Ministry has formed a new state-owned petrochemicals company that will join <\/strong>Methanex in producing methanol in Egypt.<\/strong> A shareholder agreement has been signed establishing Misr Methanol and Petrochemicals, which will manufacture methanol, ammonia, and other petrochemicals, the Oil Ministry announced today in a statement<\/a>.<\/p>\n

Around USD 1.6 bn will be invested in the first phase of Misr Methanol\u2019s plant, <\/strong>the statement said, adding that the project is planned to be established in the SCZone\u2019s Ain Sokhna site. It aims to produce 1 mn tonnes of methanol and 400,000 tons of ammonia annually, a portion of which will be exported.<\/p>\n

The new company will be jointly owned by Abu Qir Fertilizers, Helwan Fertilizers, and Al Ahly Capital Holding<\/strong>, where Abu Qir and Helwan will each hold a 35% stake, and Al Ahly Capital will hold the remaining 30% stake.<\/p>\n

Two\u2019s company: <\/strong>The new entrant to Egypt\u2019s petrochemicals industry will presumably be competing for market share with Methanex<\/a>, <\/strong>which for a decade has been Egypt\u2019s only methanol producer. The Vancouver-based Methanex Corporation holds a 50% stake in its Egyptian affiliate, with the remaining shares split between Egyptian Petrochemical Holding Company (ECHEM), Egyptian Natural Gas Holding Company (EGAS), Egyptian National Gas Company (GASCO), and Arab Petroleum Investments Corporation (APICORP). The company has a production capacity of 1.3 mn tonnes of methanol annually.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Oil Ministry has formed a new state-owned petrochemicals company that will join Methanex in producing methanol in Egypt. A shareholder agreement has been signed establishing Misr Methanol and Petrochemicals, which will manufacture methanol, ammonia, and other petrochemicals, the Oil Ministry announced today in a statement. Around USD 1.6 bn will be invested in the […]<\/p>\n","protected":false},"author":1,"featured_media":564346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10061],"tags":[93,633,3451,371,705],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-energy","tag-energy","tag-enterprisepm","tag-methanex","tag-oil-ministry","tag-petrochemicals","wpautop","entry"],"acf":{"mongo_id":"d8dda647-67d3-430a-a518-b79805765cb2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/525.jpg","photo_position":"above","related_issue":[564337],"teaser":"","voice_url":""},"yoast_head":"\nLook out Methanex - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/25\/look-out-methanex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Look out Methanex\" \/>\n<meta property=\"og:description\" content=\"The Oil Ministry has formed a new state-owned petrochemicals company that will join Methanex in producing methanol in Egypt. 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