Minister of Petroleum and Mineral Resources, Karim Badawi, emphasized that the petrochemical industry is one of the leading economic sectors in maximizing the economic utilization of petroleum resources and generating added value, which significantly supports the Egyptian economy.
This came during Badawi’s meeting with Brad Boyd, Senior Vice President of Corporate Resources at Methanex International; Mohamed Shindy, Methanex Egypt’s Managing Director; and Manal elJesri, Public Affairs Manager of the company, in the presence of Ibrahim Mekki, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM).
The meeting discussed the operational status of the company’s plant in Damietta and the production rates of methanol, which is used in many complementary industries such as building materials, plastic industries, and other industries.
Moreover, the meeting reviewed opportunities for producing green methanol and achieving successes such as those achieved with MOPCO and Norwegian Scatec in producing green a
mmonia.
Badawi affirmed the Ministry’s commitment to providing all necessary support to accelerate progress in this area, particularly as the Methanex plant represents the largest Canadian joint venture in Egypt. He also highlighted the importance of improving energy efficiency and advancing employee training programs.
For his part, Boyd highlighted the importance of the partnership with the Egyptian petroleum sector and APICORP in implementing this project using the latest technologies, which achieves added value from natural gas, and its design capacity is about 1.3 million tons of methanol annually.
He stated that there is a global trend towards producing green methanol and everyone is enthusiastic about implementing such a project in Egypt, especially since Egypt has an important strategic location among and has advanced infrastructure and ports.
Additionally, Boyd noted that the company is keen to implement occupational safety and health procedures and preserve the environment in all its projects.
Source: State Information Service Egypt