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Sidi Kerir Petrochemicals approves investment budget for 2025
Sidi Kerir Petrochemicals approves investment budget for 2025
Businessmen Team mining-energy 19 December 2024
07:18 PM
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In a disclosure released on Wednesday, Siddikrir Petrochemicals announced its investment budget for the coming year, estimated at approximately EGP 1.93 billion. This budget is allocated as follows: EGP 213.5 million for projects, EGP 962.5 million for contributions to other companies, and EGP 760.34 million for replacement and renewal.
The company has based the investment budget on an exchange
rate of EGP 55 per US dollar.
It's worth noting that Sidi Kerir Petrochemicals recorded a
net profit of EGP 1.88 billion from January to September 2024, compared to EGP
1.81 billion in profits during the same period last year.
Sales during the first nine months of this year increased to
EGP 10.01 billion, up from EGP 9.73 billion in the same period last year.
