28-03-2012

Toyo awarded Ethylene plant of Ethydco in Egypt

Toyo Engineering Corporation has been jointly awarded with ENPPI, an engineering company under the Egyptian Ministry of Petroleum, a contract to build a 460,000 T/Y ethylene plant and a 20,000 T/Y butadiene extraction plant as part of Ethydco's petrochemical complex to be established in Alexandria, the Arab Republic of Egypt, and owned by ETHYDCO, The Egyptian Ethylene and Derivatives Company newly established company under the investment law # 8/1997 of Egypt. This will be TOYO’s second ethylene plant in Egypt after 300,000 T/Y ethylene plant completed in 2001 for Sidi Kerir Petrochemicals Co. (SIDPEC).

TOYO and ENPPI, based on the most advanced ethylene technology of Lummus Technology of U.S., will execute the EPC and Commissioning under a lump-sum turnkey contract. TOYO will lead the entire project execution, undertaking project management, basic engineering, a part of detailed engineering, and procurement of key equipment. ENPPI will be in charge of joint project management, detailed engineering and procurement of other equipment and materials. Both companies will execute the construction and commissioning in collaboration with PETROJET, an Egyptian construction company as a subcontractor. The contract amount is approximately USD 600 million and the plant is scheduled for start-up in early 2015.

This award becomes TOYO’s brilliant track record as TOYO’s forty first ethylene plant projects worldwide and the fifth project experiences in the Arab Republic of Egypt. Reflecting growing demand for petrochemical products under economic growth in the country, the Egyptian Government announced its 20-year Petrochemicals Master Plan to develop the Petrochemicals Industry in 2001 under the sponsorship and supervision of the Egyptian Petrochemicals Holding Co. (Echem). Hence, this project is to be executed as a part of the national Petrochemicals Master Plan. TOYO, through this project, will contribute to the development of the petrochemical industries in the country and aim to acquire a downstream plant of this ethylene complex.