Sidi Kerir plans to invest 86.7 million pounds in replacement and renewal during 2021

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The Board of Directors of “Sidi Kerir Petrochemical Company” approved the investment budget of the company for the current year, pointing out that the item of replacement and renewal of the budget amounted to 86.68 million pounds.

The company has prepared the investment budget on the basis of the dollar price of 16 pounds.

She indicated that what had been previously formed in the previous budgets of the propylene and polypropylene plant project was sufficient until the completion of the modernization of its economic and marketing feasibility study and the clarity of the economic vision on the world level in light of the current changes and the selection of the most appropriate timing for the completion of the project.

Sidi Kerir Petrochemical achieved a net loss of 75 million pounds since the beginning of January until the end of last September, compared to 521 million pounds during the same period last year.

The company’s sales declined during the nine months, as it recorded 2.41 billion pounds at the end of September, compared to 3.92 billion pounds during the same period last year.

The article “Sidi Kerir” intends to invest 86.7 million pounds in replacement and renewal during 2021 was written in Al-Borsa newspaper.