Methanex Egypt announced a jump in its annual production of methanol, reaching about 1.1 million tons over the past year, which reflects the extent of development in its production capabilities and strengthens its position in the local market and in the field of export.
Mohamed Shendi, Managing Director of the company, stated during the General Assembly that the company is considered the only producer of methanol in the Arab Republic of Egypt, and operates through a joint venture that includes “Methanex” International, and a number of institutions affiliated with the petroleum sector, including “EKEM,” “EGAS,” and “GASCO,” in addition to the Arab Petroleum Investments Company “APICORP.”
He pointed out that “Methanex Egypt” is considered the largest Canadian investor in the Egyptian market, with investments estimated at about one billion US dollars in its industrial complex located in Damietta Governorate, pointing to its pivotal role in developing the methanol market within the country, as the volume of production directed to local consumption increased over the course of 15 years from 20 thousand tons to approximately 200 thousand tons annually.
Shendi explained that methanol contributes to achieving an added value of up to three times when used in manufacturing industries, noting that the “Suez Methanol Derivatives” plant is expected to begin work soon, which will add about 58 thousand tons to the local market through a new pipeline, which will support the growth of this sector in Egypt.
Regarding exports, he stressed that the company effectively contributed to enhancing foreign exchange flows by exporting more than 12 million tons to European and Asian markets since the start of its operations, benefiting from the global supply network.
During the General Assembly meeting to approve the results of the 2025 business, Egyptian Minister of Petroleum Karim Badawy praised the company’s role in meeting the needs of the local market and exporting the surplus, calling for studying expansion opportunities to increase export capacity in line with the growing global demand for methanol.
