Ethydco to start trial operations by end of June; in line with EFGe
According to an article in Al Mal, The Egyptian Ethylene and Derivatives Company (Ethydco), a 20% equity investment held by Sidi Kerir Petrochemical Company (Sidpec) [SKPC.CA], is set to commence production at its plant by end of June 2016. This is in line with our expectation for the commencement of trial operations during 2H16 and the commencement of commercial operations by 2017. (Al Mal, Yousef Husseini) Sidi Kerir: EGP11.62 as of 23 May 2016, Rating: Buy, FV: EGP13.54 per share, MCap: USD687 million, SKPC EY / SKPC.CA
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