SIDPEC announces receiving technical, engineering designs from UOP
SIDPEC announced receiving the technical/engineering designs for the new 500ktpa propylene plant from UOP (technology licence provider for the plant). Based on the release, the company will be receiving the financial and technical offers from five international contractors to build the plant by Apr 2019. Sidpec also stated that Grace is close to completing the technical and engineering designs for the new 450ktpa PP plant. It is worth noting that the company is close to receiving the final report from the financial adviser, which will include the PP project-financing structure. (Company release)
Sidi Kerir: EGP19.93 as of 11 Feb. 2019, Rating: Buy, TP: EGP23.00/share, MCap: USD595mn, SKPC EY/SKPC.CA
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