Engineer Mohamed Safan, Head of Egyptian Petrochemicals Holding Company (ECHEM), has announced that the company is targeting to build a new plant that will produce medium-density fiberboard (MDF) from agricultural residues. The plant is estimated to have EUR80mn of investment and will be located in Northern Delta, Egypt. He also note that 60% of the project will be funded by local and foreign financing institutions. Safan added that the company’s studies show that the facility should be operating at a capacity of 130 thousand cubic metres of MDF per year. The facility will start operating after 18 months from finishing the construction activities. The facility will also utilise plastic raw materials from domestic companies such as Sidi Kerir Petrochemicals Company (Sidpec) [SKPC.CA ] and other local players. (Amwal Al Ghad)   Sidi Kerir: EGP13.66 as of 30 October 2016, Rating: Neutral, FV: EGP13.50 per share, MCap: USD808 million, SKPC EY / SKPC.CA