bp signs deal to restart operations of Egyptian Anode Blocks
Updated 1/27/2025 10:04:00 AM
Arab Finance: British Petroleum (bp) Energia Espana penned an agreement to resume the operations of the Egyptian Anode Blocks Company at the Ain Sokhna Free Zone, according to an official statement.
Under the five-year agreement, bp will provide $20 million in financing to resume maintenance work at the anode blocks factory, which has been non-operational for two years.
The Egyptian Anode Blocks is 75% owned by Metallurgical Industries Holding Company and its affiliates under the Ministry of Public Business Sector.
The signing ceremony was attended by Prime Minister Mostafa Madbouly and Minister of Public Business Sector Mohamed Shimi.
Laura Peña, Global Coke and Sulfur Director at bp, signed the agreement with Mohamed El-Saadawi, Chairman of the Metallurgical Industries Holding Company.
Shimi highlighted that the contract aligns with the minister’s efforts to enhance the capacity of affiliated companies, increase production and operation rates, and achieve the highest levels of productivity.
It will also meet market needs, replace imports, and support the national economy, the minister added.
Once operational, the anode blocks plant will contribute to reducing the import bill of its final product consumed by industrial companies, especially in the aluminum industry.
The facility is expected to produce 250,000 tons of anode blocks annually following the supply and installation of a second coke cooler, generating revenue of $97 per ton of calcined petroleum coke.
The minister also noted that the agreement guarantees a minimum output equivalent to calcining 200,000 tons annually.
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