Arab Finance: Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, confirmed that petrochemical products contribute greatly to the daily life of the citizen; Where it enters into the production of many industrial products and applications, indicating in Statement To him that this sector is of great importance to the economy, increasing exports, replacing imports, and providing production inputs for various industries.
He directed a clear plan and vision in the medium term on production inputs of natural gas rich in derivatives that are produced locally and represents the basic feeding material for some of the petrochemical industry projects, this came during the meeting of the General Assembly of the Egyptian Company for Ethylene Production and its derivatives “Etidco” to adopt the results of business in 2024 to produce polyethylene used in gas, water, drainage pipes, and packaging industries Plastic packaging, tanks, ropes and medical supplies.
The Minister praised the clear achievement of Ethidco in the application of operations safety systems with high efficiency that qualified it to become the seventh rank globally, according to an international evaluation from the DNV Foundation.
For his part, the chemical Hisham Riad, President of Etidco, explained the most prominent performance indicators during the year 2024 in the framework of the ministry’s strategy axes, which reflected its ability to adapt to the market conditions and challenges, noting that the production plan achieved 100%, and by 314 thousand tons of ethylene and 330 thousand tons of polyethylene with a value of about 7.9 billion pounds for local market sales and 211 million dollars for export sales.
With the increased sales of the local market 8% and exports to reach 35 private countries to Europe, the main market for the company and the State of Turkey, along with Latin America, which increased the quantities directed to its markets by 130%, and focus on growth in Africa markets, and the value of secondary products was maximized and marketed locally and externally.
He added that Etidco has developed a new polyethylene product for solid pipes to protect them from Steel Pipe Coating, and the company received the adoption of the German SKZ Foundation for its polyethylene products, allowing them to be used in water pipe networks, gas and drainage in national projects.
In the field of environmental sustainability, Etidco became the first company to obtain an environmental disclosure certificate and international accreditation for the carbon fingerprint of the medium density polyethylene product, which confirms its commitment to environmental sustainability and supports its competitiveness in a global market concerned with products that match environmental standards.
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