Eatco to form international consortium on polyolefins project

28 March 2003
The Egyptian Arab Trading Company (Eatco)on 28 March announced that it was forming an international consortium to develop a $1,400 million natural gas-to-polyolefins (GTP) project in the Damietta free zone, near Alexandria. Lurgiand Linde, both of Germany, have been invited to participate in the consortium. Jacobs Engineering of the UK will act as engineering and project manager. Financial adviser is Germany's Dresdner Kleinwort Wasserstein and the UK's Trowers Hamlinis providing legal advice.

Eatco's scheme will entail using natural gas to make methanol, which will then be processed, using methanol-to-olefins (MTO) technology, into ethylene and propylene. The end-products will be 300,000 tonnes a year (t/y) of polyethylene and 200,000 t/y of polypropylene (MEED 7:6:02). 'This GTP project, with its strong international group, is an example of how partnership with the private sector can assist the Egyptian government in its drive to utilise its expanding gas resources, through the value-adding petrochemical industry,' said Eatco chairman Yehya el-Komi.

See this week's edition of MEED for details.

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