The German conglomerate ThyssenKrupp offered to participate with Egyptian oil companies in the implementation of five new projects under preparation.
The offer was made during a meeting between the representative of the German company and Tarek El-Molla, acting minister of petroleum and mineral resources. The projects that ThyssenKrupp intends to implement include a polybutadiene plant at the Egyptian Ethylene and Derivatives Company (Ethydco), a propylene and polypropylene plant at the Sidpec petrochemicals complex expansions and a formaldehyde production plant in Damietta Port.
In addition, the company also plans to participate in the ammonia project with the Alexandria National Refining and Petrochemicals Company (ANRPC) and the new project for the production of middle distillates such as butane and diesel at the Alexandria Mineral Oils Co (AMOC).
El-Molla said that his ministry is keen to expand cooperation with German companies to work in the petroleum sector because of their expertise and advanced technological capabilities that can be utilised in implementing the new projects, stressing that the oil sector will study the possibilities available to activate cooperation between the two sides.
For his part, President of the German-Arab Chamber of Industry and Commerce Ulrich Hermann stressed that the petroleum sector projects represent a major starting point for the expansion of the business and investments of German companies in Egypt, adding that the chamber supports technology transfer initiatives and cooperation in vital sectors, such as the oil and energy sectors, to achieve common interests and mutual benefit between the two sides.