Egypt's Prime Minister Mostafa Madbouly witnessed the signing of a significant agreement at the Cabinet's headquarters in the New Administrative Capital on Sunday, aimed at restarting the Anode Blocks Factory in Ain Sokhna. The agreement, signed between British Petroleum (BP) Energia España and the Egyptian Anode Blocks Company, is part of a strategic initiative to revitalize the factory, which is majority-owned (75%) by the Metallurgical Industries Holding Company and its subsidiaries under the Ministry of Public Enterprise Sector. The partnership will focus on financing essential maintenance operations, overseeing the calcination process of petroleum coke, and enhancing the factory's production capacity. The signing ceremony was attended by Engineer Mohamed Shimy, Minister of Public Enterprise Sector. The contract was officially signed by Mohamed El-Saadawy, Executive Managing Director of Metallurgical Industries Holding Company, and Laura Peña, Head of International Coke Operations at BP. In a statement following the ceremony, Minister Mohamed Shimy emphasized that this agreement marks the return of the Anode Blocks Factory, which had been inactive for two years. The project aligns with the Ministry's broader goals of improving the capabilities of its companies, boosting production, and reducing imports to meet market demands, particularly for aluminum manufacturers. Shimy further highlighted that once operational, the factory is expected to produce 250,000 tonnes annually, following the installation of a second coke cooler. The anticipated revenue from this production is projected at $97 per metric ton of calcined petroleum coke. The factory will have a guaranteed minimum output of 200,000 tonnes annually. The contract, which spans five years, also outlines BP's commitment to investing $20 million in maintenance and efforts to maximize production capacity. BP will provide full technical support, sending a team of technicians to ensure the production meets required quality standards and specifications. Nader Zaki, BP's Regional President for the Middle East and North Africa, expressed his enthusiasm for the agreement, emphasizing that it reflects BP's long-standing commitment to Egypt and their shared history of collaboration, which spans over 60 years. Laura Peña, BP's Head of International Coke Operations, stated: "This collaboration supports our strategy to enhance the production of European-grade anode coke in a more competitive manner."
