Arab Finance: Company announced Sidi Kerir Petrochemicals – Sidipec (SKPC)announced the holding of the founding general assembly of the Alexandria Supply Chain Company yesterday, which aims to establish a marine facilities station to secure the current and future needs of the former for imported ethane gas, according to statement Egyptian Stock Exchange.
The assembly was held with a shareholder structure that included the Egyptian Petrochemical Holding Company – EKEM with a 40% stake, Sidi Kerir Petrochemicals with a 25% stake, Gama Construction with a 25% stake, and the Egyptian Natural Gas Company – GASCO with a 10% stake.
She indicated that the initial issued capital is $15 million, and the total investments are estimated at about $660 million.
About the results of its operations during the period from 01/01/2024 to 03/31/2024 It showed achieving a net profit of 559.473 million pounds, compared to the company achieving a net profit of 520.325 million pounds during the period from 01/01/2023 to 03/31/202.
Regarding unaudited business results indicators for the fiscal year ending on 12/31/2023, it revealed that a net profit amounted to 2.459 billion pounds, compared to a net profit of 1.238 billion pounds during the comparative period of the previous fiscal year, according to For a statement Egyptian Stock Exchange.
Sidi Kerir Company is the first integrated step in the petrochemical industry in Egypt. It always seeks to participate in achieving national goals such as producing value-added products using available raw materials, as well as developing local industries that rely on those products. The company produces polyethylene (high-density and low-density linear ) Using ethylene, which is produced by processing ethane/propane gases – coming from the Western Desert Gas Complex, “GASCO Company” – within the framework of the best production technologies based on energy saving and environmental friendliness. “Egyptene” is the trademark of the company’s products and is considered one of the best known products in Manufacture of polyethylene locally and internationally. The company also produces intermediate products such as butane and butane.
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