The Egyptian Propylene & Polypropylene Company (EPPC) announced plans for investing $890 million on expansion projects in Port Said over the next two years.
EPPC is also looking to increase its production capacity to 600,000 tonnes per year, according to Al Mal newspaper.
The company received the approval of the Ministry of Water Resources and Irrigation concerning acquiring an area of 20 feddans (20 acres) for the project.
The land was previously owned by the General Authority for Shore Protection in Port Said, Al Mal reported.
Amwal Al Khaleej Company, which owns 16.5% of EPPC, is considering investing around $1 billion in expansions in the first quarter of 2018, the company’s regional director Karim Saada said in May last year.