Egypt's chemical sector investment records $36B

CAIRO - 26 November 2017: Investments in the chemicals sector reached a total value of $36 billion, Head of the Chamber of Chemical Industries Sherif el-Gabaly said Sunday.

In a seminar organized by the German-Arab Chamber of Industry and Commerce, Gabaly noted that Egypt's chemical exports recorded $3.3 billion in 2016.

"The chemical industries are important as they enter in fertilizers and glasses manufacturing," he said, adding that fertilizers exports register 300,000 tons per year, while glasses exports amount to 1,850 tons per year.

The chemicals sector is said to account for 3 percent of GDP and 12 percent of the industrial sector's volume, according to official figures.

By 2020, Egypt plans to produce more than three million tons of chemical products, under a 20-year national plan, which involves a range of products from ethylene and polyethylene to olefins and aromatics.