Tuesday 28 Jan
Prime Minister Dr. Moustafa Madbouly witnessed this Sunday morning at the government headquarters in the New Administrative Capital the signing ceremony of a contract between British Petroleum (BP) and the Egyptian Company for Anode Blocks. The Holding Company for Metallurgical Industries and its affiliated companies, under the Ministry of Public Business Sector, own 75% of the shares in the Egyptian Company for Anode Blocks.
The agreement aims to restart the Anode Block factory in the Ain Sokhna Free Zone, finance the necessary maintenance work, supervise the "calcination" process of petroleum coal, and the operation of the petroleum coal “calcination” process, and Increase production capacity utilization rates.
The signing ceremony was attended
by Engineer Mohamed Shimi, Minister of Public Business Sector. The contract was
signed by Engineer Mohamed El Saadawi, Executive Managing Director of the
Holding Company for Metallurgical Industries, and Laura Peña, Head of the
International Sector for Coke Business at British Petroleum.
During the signing ceremony, the
Minister of Public Business Sector emphasized that the contract aims to revive
the Anode company, which has been inactive for two years. This aligns with the
Ministry's broader goals of enhancing the capabilities of its affiliated
companies, boosting production, meeting market demands, reducing reliance on
imports, and supporting national economic growth.
He explained that the company's
operation will significantly reduce the import bill for its final product, a
crucial input for various industries, particularly aluminum manufacturers.
The Minister further stated that
upon restarting the anode blocks plant in the Ain Sokhna free zone, the
expected annual production will reach 250,000 tons after the installation of
the second coal cooler. This is projected to generate a net income of $97 per
ton of calcined product for the Anode company. He also highlighted a guaranteed
minimum annual production level of 200,000 tons for the company.
Shimi added that, under the
five-year contract, British Petroleum will invest $20 million in maintenance
and upgrades to achieve maximum production capacity. The company will also
provide comprehensive technical support, including a team of technicians to
oversee the production process and ensure that output meets all quality
standards and specifications.
Nader Zaki, Regional President of
British Petroleum in the Middle East and North Africa, stated that this
agreement marks a significant milestone in the more than sixty-year partnership
between Egypt and British Petroleum.
Laura Peña expressed enthusiasm for the partnership with the Egyptian Anode Company, emphasizing the opportunity to leverage its strategic assets to produce high-quality improved coke. This collaboration aligns with their strategy to enhance the production of competitive European-grade anode coke.
