News Code : 42880

Petrotahlil - According to the country’s local media sources, the Egyptian Ministry of Petroleum has decided to close the local PS producer E-Styrenics’ plant permanently due to mounting debts that have reached millions of Egyptian pounds.

Employees of the company are expected to be relocated in other oil and petrochemical facilities in Cairo and Alexandria.

The Egyptian company started commercial production at its 200,000 tons/year plant Al-Dekheila Port in Alexandria, Egypt in 2013. The company’s shareholders included the Egyptian Petrochemicals Holding Company (ECHEM) as well as the Egyptian National Investment Bank and the Ministry of Finance.

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