Sidpec plans for hydrogen power plant, new sodium cyanide project
Updated 1/8/2025 5:54:00 AM
Arab Finance: Sidi Kerir Petrochemicals Company (Sidpec) intends to establish a hydrogen-powered plant with a capacity of 14 megawatts in 2025, unnamed sources in the know told Al Arabiya Business.
Korra Energi is currently negotiating over implementing the project with an investment of approximately $16 million.
The power plant will utilize hydrogen produced as a by-product of Sidpec’s existing operations, replacing natural gas to reduce fuel consumption costs at the Sidi Kerir complex.
In addition to the hydrogen project, Sidpec has signed a 25-year renewable land lease contract under the usufruct system within the Sidi Kerir complex.
The agreement involves the Austrian Petrochemical Holding GmbH and Czech company Darslovka to establish a sodium cyanide production facility.
The project will later be managed by Draschem for Specialized Chemicals, a company being formed with a paid-up capital of $150 to $160 million.
Sidpec is also negotiating a 15% equity stake in the sodium cyanide project, valued at $22.5 to $24 million.
The facility will operate under the special free zone system, with a projected annual production capacity of 50,000 tons, entirely for export.
The sodium cyanide project is expected to support various strategic industries, including mining and pharmaceuticals.
Sidpec, established in 1997 and listed on the Egyptian Exchange (EGX) in 2005, specializes in ethylene and polyethylene production and provides key materials for the Egyptian Petrochemicals Company.
It also produces high- and low-density linear polyethylene, butane-1, and liquefied petroleum gas (LPG).
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