Giant leap in the Petrochemical Industry in Damietta Port

In the context of the giant leap achieved by the Egyptian oil sector, Damietta Port Authority and Suez Company for Methanol Derivatives started the implementation procedures for a new project which is considered the first of its kind to produce 18 thousand tons formaldehyde urea with a concentration of 85, 34,000 tons of formaldehyde with a concentration of 65, 26,000 annually of Naphthalene formaldehyde, which is used in the manufacture of fertilizers, ready-made concrete and adhesives, which is needed for the consumption of the Egyptian industry. This project provides a living example of integration between state agencies represented by the Ministry of Petroleum and the Ministry of Transport.

Rear Adm. Ayman Saleh, Chairman of Damietta Port Authority, said that the project will be built on an area of ​​100,000 m2 inside Damietta Port. The idea is based on integration with existing and productive projects inside the port represented by Mopco Fertilizers Company and Methanex Company for Methanol Products to meet the needs of the local market and to export the surplus.

Saleh added that the Port Authority has succeeded in putting an end to a 10-year dispute with the Holding Company for Petrochemicals. These efforts resulted in the signing of an agreement and its ratification in November 2017 to establish this project and submit it to the State Council and the Council of Ministers for approval.