Oil Tec For Oils & Detergents plans to open a new factory for vegetable oil derivatives next year after the completion of the experimental operation. Hazem Morgan, Operations Manager Olio Egypt, said the plant's production line is dedicated to the production of vegetable oil derivatives from soap and glycerine at 100 tons per day. He added, "The new factory is valued at about $300m and is built on an area of 100,000 square meters. It is designed to expand and expand new production lines to accommodate future expansions. The company aims to export 50% of the factory's output in order to benefit from the difference in the price of foreign currency, and compensate for the high production costs after the increase in prices of raw materials, energy resources and petroleum derivatives as a major component in the industry. The company's operations manager expected to start the actual operation of the plant during the first quarter of 2018, after the end of the trial period. On the other hand, Omnia Morgan, the company's import and export manager, said that Oil Tec aims to achieve exports worth $30m by the end of this year, compared to 12 million dollars in 2016. The company is seeking to expand its exports and enter new markets, including the Arab market in general and the Common Market for Eastern and Southern Africa (COMESA) countries to benefit from the trade agreements signed by Egypt with those trade groups. Oil Tec exports its oil and soap products to Madagascar, Kenya, Mauritius, Rwanda, Ethiopia, Brunei, Seychelles, China and other Arab countries including Libya, Palestine, Kuwait and Qatar, She added that the production capacity of the oil plant is about 17 thousand tons annually, and produces 4 types of edible oils namely soybean oil, sunflower, maize and mixture, as well as "Shorting – industrial fungus" of products of fat, butter and ghee.
