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Company Update

Methanex in Egypt and ECHEM celebrate the delivery of 500,000 tonnes of methanol to the Egyptian market

The Egyptian Petrochemicals Holding company (ECHEM) and Methanex in Egypt  celebrated the achievement of a new milestone through the delivery of 500,000 tonnes of methanol to the domestic market. Attending the event was Methanex Corporation, CEO Mr. John Floren, Methanex Corporation, Senior Vice President for Corporate Resources, Mr. Brad Boyd, ECHEM Chairman Mr. Saad Helal, and Methanex in Egypt CEO and Managing Director Mr. Mohamed Shindy.

Commenting on this new milestone, ECHEM Chairman Saad Helal said: “Our partnership with Methanex in Egypt is one of the achievements of the Egyptian petroleum sector, realized through the national petrochemical sector’s plan and the Ministry of Petroleum and Mineral Resources’ strategy for substituting exports with domestic products. The domestic methanol marketing and sales agreement is key to meeting growing local demand and supporting local industries dependent on methanol as a key feedstock for the manufacture of a significant number of value adding products.”

“Today, we are celebrating a new milestone, that of 500,000 tonnes of methanol sold domestically via our partner ECHEM. This success is a testament to the strong partnership between ECHEM and Methanex,” said Mohamed Shindy, Methanex in Egypt CEO and Managing Director. “As a leader in Responsible Care, safety is our number one priority, and we are dedicated to the safe handling of methanol during all phases of methanol production, transportation, distribution, storage and use,” Shindy added.

ECHEM is the only marketer of locally produced methanol in Egypt. Methanex in Egypt (Methanex Corporation 50%, ECHEM 12%, EGAS 12%, Gasco 9%, APICORP 17%) is the country’s only methanol producer and largest Canadian Joint Venture. Methanol produced in the company’s state-of-the-art plant in Damietta is either exported or sold domestically, and is a main feedstock enabling a wide array of industries dependent upon methanol including construction products, plastics and formaldehyde.

One of the main highlights of the event was the celebration of the ongoing successful collaboration with the country’s top methanol buyers, including Sprea, MRI, al Mohandes, Life Chemicals, Africa, Al Alamiya and Rawan, in addition to SGS. ECHEM and Methanex in Egypt acknowledged the customers’ loyalty, presenting them with awards in recognition of safe lifting, distribution and delivery.

Methanex_Egypt_500k Tonnes of Methanol Achievement from Methanex Corporation on Vimeo.

500K Tonnes Celebration Event_Methanex_Egypt from Methanex Corporation on Vimeo.