Sidi Krir Petrochemicals Company (SIDPEC)
Sidi Krir Petrochemicals Company (SIDPEC) was established on November 16, 1997 as an Egyptian Joint Stock Company. SIDPEC is a renowned world-class producer of ethylene and polyethylene located in the Mediterranean at the Alexandria port and makes up 100% of Egypt's current total ethylene and polyethylene capacity.
Established in 1997 and operational since 2000, Sidi Krir Petrochemicals is the nation’s largest producer of ethylene and polyethylene.
SIDPEC was 97%
state-owned until partially privatized in an IPO in mid-2005.
Current sharaholders:
Egyptian
Petrochemicals Holding 20%
Misr
Bank 21%
National
Investment Bank 7%
National
Bank of Egypt 7%
Egyptian
Petrochemicals 7%
Social
Insurance Fund for Employees of Government Sector 5%
Misr
Insurance 3%
Naser
Social Bank 2%
Others
(IPO) 23%
The firm's ethylene
plant, which was operational starting August 2000 at an
investment cost of EGP 976 mn, has a production capacity of 300,000 tons per
annum. In
addition, the company's polyethylene plant has a capacity
of 225,000 tons per annum and was operational starting in
October 2000 at a total investment cost of EGP 815 mn.
SIDPEC also operates a LPG unit with a capacity of
50,000 tons per annum since May 2002. Furthermore, the
company has a butene unit with a capacity of
10,000 tons per annum that has been operational since
September 2000.
Butadiene
Project
(2006/7/20)
This project aims to produce Butadiene which is used primarily as
a monomer & co-polymers , it’s also used as an intermediate in
the production of several chemicals by the rational utilization
of all natural gas components. The actions to prepare the
execution of this project are being handled nowadays, the studies
for this project were done in cooperation with ECHEM.
This project has :
Production
capacity 20000 tons/yr.
Estimated
budget 40 million $.
Polyethylene
Project For Natural Gas Pipes (2006/7/20)
The company is preparing to execute this project which aims to
produce high density polyethylene required for the production of
high pressure pipes used in water and gas networks,and thus the
Egyptian dream will come true by making the Egyptian natural gas
reaches every Egyptian family home in Egyptian polyethylene pipes
.
This project has :
Production
capacity of 40,000tons/yr
Estimated
budget 30 million $
2008/3/12 ICIS news
Sidi Krir plans C2
expansion, new PE facility
The future plans of Sidi Krir Petrochemicals Co (Sidpec) include
beginning work on the third phase of an ethylene project and a
joint venture with global chemicals firm INEOS for a polyethylene
(PE) facility, the Egyptian company said on Wednesday.
Meanwhile, for fiscal 2007, the company reported sales of
Egyptian pounds (£E) 1.25bn ($228m) and exports of £E838m, the report added without
disclosing further financial details.
Once it received necessary approval, Sidpec planned to invite
tenders for the third phase of its ethylene project, it said.
It would soon begin test production at the second phase of its
300,000 tonne/year ethylene production facility, the report
added.
A joint venture with global chemical company INEOS, involved the
construction of the third phase of its PE facility, which will
have an expected 200,000-300,000 tonne/year
capacity.
Sidpec is Egypt’s sole producer of ethylene and
propylene, with a combined production capacity of about 525,000
tonnes/year.
($1 = £E5.49)