A feasibility study for a propylene production project in Alexandria worth $1.5bn in investments is underway, according to an international consultancy office that requested anonymity, said an official from the Egyptian Petrochemicals Holding Company (ECHEM).
He pointed out that the feasibility study is expected to be completed over the coming year. Following this, the search for funders will begin, he added.
Implementation is set to begin in 2015 if funders are available, according to the official.
Feasibility studies will be completed for three other petrochemicals projects worth a total of $540m in investments at the beginning of 2015, the official said.
This includes the establishment of a factory for bio-ethanol production from molasses through investments worth $250m in order to produce 100,000 tonnes of ethanol annually. Implementation is expected to take place throughout the 2015/2016 fiscal year.
A second project involves the construction of a factory to produce another 100,000 tonnes of bio-ethanol annually from rice hulls with investments worth $240m. The project is expected to be implemented during FY 2016/2017, the official said.
The third plan involves increasing PVC production by 40,000 tonnes annually with investments of $50m. Implementation is set to take place during FY 2016/2017.
He pointed out that the availability of funding for these projects will be based on political and economic stability in the country, as most of the ventures will depend on bank financing for long periods of time.