{"id":323058,"date":"2021-08-25T09:53:23","date_gmt":"2021-08-25T09:53:23","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323058"},"modified":"2021-08-25T09:53:23","modified_gmt":"2021-08-25T09:53:23","slug":"egypt-signs-a-deal-to-form-misr-methanol-and-petrochemicals","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/08\/25\/egypt-signs-a-deal-to-form-misr-methanol-and-petrochemicals\/","title":{"rendered":"Egypt signs a deal to form Misr Methanol and Petrochemicals"},"content":{"rendered":"<p>he Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, witnessed the signing of a shareholder agreement for the establishment of Misr Methanol and Petrochemicals Company.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>Abu Qir Fertilizers and Helwan Fertilizer Company will each own 35% of the company, while Al Ahly Capital Holding Company will hold the remaining\u00a030% stake, according to a statement by the Ministry of Petroleum on Tuesday.<\/p>\n<p>The project, planned to be established in the Suez Canal Economic Zone (SCZone) in Ain Sokhna, aims to meet\u00a0the needs for methanol and its derivatives in the local market and export the surplus abroad.<\/p>\n<p>The investment cost of the first phase of the project amounts to around\u00a0$1.6 billion, with an annual output capacity of 1 million tonnes of methanol and 400,000 tonnes of ammonia.<\/p>\n<p>In a disclosure to the Egyptian Exchange (EGX) on Wednesday,\u00a0Abu Qir Fertilizers\u00a0said that the authorised capital of the company stands at $200 million and its issued capital amounts to $20 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>he Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, witnessed the signing of a shareholder agreement for the establishment of Misr Methanol and Petrochemicals Company.<\/p>\n","protected":false},"author":4,"featured_media":323059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,21],"tags":[],"class_list":["post-323058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-main","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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