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Egyptian Indian Polyester (EIPET) is constructing a polyethylene terephthalate (PET) resin plant in the port town of Ain Sokhna, Egypt. The new production facility will manufacture PET resin to be used to make packaging bottles for food and fast moving consumer goods (FMCG).
Construction of the $160m facility commenced in June 2011 and is expected to be completed by the end of 2012.
The plant will produce 420,000mt of PET plastic chips a year. About 20% of the produce will be used locally and the remaining will be exported to European and North American markets. The plant is expected to generate $700m in revenues when fully operational.
The PET resin plant will contribute towards the local community by creating 800 jobs during construction and another 500 permanent jobs when fully operational. In addition, it will create foreign exchange reserves for Egypt.
The plant will include PET production units, two HTM heaters, four monoethylene glycol (MEG) tanks (20m diameter and 16m height, three chimneys and six PET chip storage silos (6m diameter and 32m height).
In addition to the main production building, the plant will have two administrative buildings, two utility buildings, a utility substation, two raw water and fire water tanks, high tension power room, two weigh bridge rooms, two effluent treatment plants, two cooling towers and raw material and finished goods storage rooms.
During the process of PET resin production, the plant will generate 124t/d of waste water which will be treated and recycled for further use.
The other solid and hazardous waste resulting from the plant will be transported to the disposal centre in Alexandria for recycling and disposal.
IFC has committed $35m towards construction of the plant. This loan was approved in May 2011.
In addition, the Commercial International Bank and Ahli United Bank have provided $65.5m of capital and $11.3m of working capital to EIPET.
Egyptian-Indian Polyester Company (EIPET)
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