The shorter-phrase outlook for your Egyptian petrochemicals marketplace seems uncertain while output are going to be undermined by flagging export marketplaces in addition to the slowing domestic sector, In keeping with BMI’s most current Egypt Petrochemicals Report. We forecast a slowdown in economic exercise with expansion of 3.two% in FY2010/11, in comparison with 5.one% the prior calendar year. To the upside, a 5.six% depreciation from the Egyptian pound versus the US dollar and a 13.nine% depreciation in opposition to the euro will help defend the business from overseas Opposition around the domestic current market.
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Some segments will fare much better than Other folks, with average four.four% progress in the development sector in 2011- 2015 likely to buoy need for rebar and other building-similar metals goods. In the meantime, automotive output continues to be disrupted with the impact of unrest on operations and domestic need, with the marketplace established for zero development this 12 months, at most effective. This may depress domestic utilization of aluminium and sheet metal.
Despite the quick-expression complications, Egypt’s lengthy-phrase probable ensures that it is continuing to draw expenditure from the petrochemical industry and jobs are still on course. The Egyptian-Indian Polyester Firm has began design of the 440,000tpa PET plant that is because of start off generation in December 2012. The ability will satisfy Egypt’s domestic need, presently included by imports, and can facilitate exports of PET. Meanwhile, the Egyptian Polystyrene Output Corporation (Estyrenics) is arranging Egypt’s very first ethylbenzene-styrene monomer plant with 300,000tpa potential for the El Dekila port internet site at Alexandria. It represents the 2nd period of a bigger styrenics advanced. The primary phase, which is nearing completion, features a 200,000tpa PS unit, Whilst you will discover considerations that it could be a target of burgeoning overcapacity. In April 2011, Sidpec and two state-owned Egyptian corporations introduced they were jointly scheduling an financial commitment of EGP7bn (US$1.2bn) on building an ethylene plant in Egypt.
Sidpec reported the corporate Agencija za prevodjenje had attained a licence to create a plant with capacity to generate 460,000tpa ethylene.
Meanwhile, Egypt Japan Petrochemical Company - a joint venture concerning Mitsubishi Corporation and Chiyoda Company - is planning to acquire with Egypt’s Carbon Holdings the planet’s major methanol plant at Ain Sohkna with blended capacity of 6,000tpd. Hydrogen-loaded gasoline byproducts would be Employed in a separate two,000tpd ammonia plant to become based mostly at the same web-site for which Uhde is supplying its course of action engineering and engineering products and services. Work on the methanol/ammonia advanced is scheduled to begin in 2012 with Agencija za prevodjenje completion specific for the center of 2015. As well as the methanol and ammonia elaborate, Carbon Holdings will commence development of the 1,060tpd ammonium nitrate generation facility in 2011.
Carbon Holdings is also generating development at its new olefins product with a three-line Unipol procedure PE plant with blended potential of one.35mn tpa, together with three PE plants, Every single created for 450,000tpa - just one will produce HDPE and one other two will be HDPE/LLDPE swing units. The complex is expected to come onstream in 2015. The PE plants could be fed by a naphtha cracker at the positioning Together with the ability to create 900,000tpa of ethylene and 400,000tpa of propylene. The ethylene will likely be utilised with the PE units, although the propylene will likely be offered on for the Oriental Petrochemicals Organization.
Associated Reviews:
India Petrochemicals Report Q3 2011
Germany Petrochemicals Report Q3 2011