Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) is currenlty looking to select general contractors for its propylene and polypropylene production facility.

The final investment cost of the project is currently being determined and based on which the size and timing of the capital increase will be decided, in cooperation with the lead manager and advisor of the transaction, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Last May, Sidpec announced the appointment of NI Capital to serve as a financial adviser for its capital raise, noting that the propylene and polypropylene project will have a 70:30 debt-to-equity ratio.