The Egyptian Petrochemicals Holding Company (the “Grantee”) invites submission of qualifications and proposal data (collectively referred to as the “Proposal”) from interested U.S. firms that are qualified on the basis of experience and capability to conduct a feasibility study for a POM plant in the Damietta Free Zone, 200 km north of Cairo (the Damietta Zone). The feasibility study will assist the Grantee in establishing the process design, capital requirements, market assessment, and the economic and financial analyses for the Project. The purpose of this FS is to provide a bankable technical, marketing, financial, and economic review of the Project to assist the Grantee, the Egyptian Petrochemicals Holding Company (Echem), with further project development.
Echem was created by the Egyptian Government in 2001 and is a well-established and profitable petrochemical company with $88 million in revenue for FY 2018. Echem is a state-owned entity and one of five holding companies that are under the Ministry of Petroleum.
Echem is moving into its second Master Chemical Plan (Master Plan II). The first Master Chemical Plan (2001-2022) (Master Plan I) created a blueprint for the development of a robust, internationally competitive petrochemical industry in Egypt, and includes 14 chemical production facilities, with 24 projects incorporating 50 production units. This FS would support the Grantee in establishing a POM plant, which would provide a domestic supply of an engineering plastic that could be used in many industrial and consumer products as part of Echem’s second Master Chemical Plan. POM is a polyformaldehydebased thermoplastic that has been commercially available for nearly 60 years. Egypt has a population approaching 100 million people and imports all of the engineering plastics consumed in the country, including POM. The proposed POM Plant would be the first engineering plastics plant in Egypt and would serve a growing domestic market.
Are you enjoying the article? Join our community for even more!