The source said that the move comes as the previous offer had exceeded the budget. They added that decisions with regards to future capital requirements, including the need for a capital increase, would only be known upon finalisation of a contractor for the propylene plant.
Honeywell Process Solutions (HPS) announced, on Tuesday, that its technology has been selected by Sidi Kerir Petrochemicals Company (SIDPEC) in the upgrade of the latter’s production capabilities at its Alexandria petrochemical complex. SIDPEC’s facilities in Egypt’s second city and largest port produces ethylene and polyethylene for the Egyptian market. In a press statement, Honeywell said …
Naeem Research anticipates that the project’s equity portion is expected to be funded via a capital increase, with NI Capital already appointed as the financial advisor.
