1975 CE
Government initiates petrochemicals plan
The Egyptian government announces plans to establish a national petrochemicals industry to reduce import dependence and boost industrialization. #petrochemicals #egypt
Chronological Storyline (47 Milestones)
Mar 15, 1977 CE
Egyptian Petrochemicals Company founded
Egyptian Petrochemicals Company (EPC) is established by Presidential Decree No. 137 with an initial capital of EGP 50 million, marking the start of the country's petrochemical sector. #petrochemicals #egypt
Jun 1, 1978 CE
Initial capital of EGP 50 million
The founding capital of EGP 50 million is fully subscribed by the government and private investors, establishing the financial foundation for construction. #petrochemicals #egypt
Sep 1, 1979 CE
Technology transfer agreement signed
EPC signs agreements with foreign partners (including Mitsubishi) for technology transfer and licensing to build a modern petrochemical complex. #petrochemicals #technology
Apr 1, 1980 CE
Construction begins in Alexandria
Groundbreaking for the main petrochemical plant in El-Amriya, Alexandria, begins, with a planned capacity of 100,000 tons per year. #petrochemicals #construction
Nov 1, 1982 CE
First ethylene production line completed
The first ethylene cracker unit is completed and begins production, a key milestone in the company's early output. #petrochemicals #ethylene
Dec 10, 1983 CE
Official inauguration by President Mubarak
President Hosni Mubarak officially inaugurates the plant, highlighting its strategic importance for Egypt's economy. #petrochemicals #egypt
1984 CE
Production capacity reaches 100,000 tons/year
Full capacity of 100,000 tons per year is achieved, primarily producing ethylene and polyethylene. #petrochemicals #production
Jul 1, 1985 CE
Polyethylene production begins
EPC starts commercial production of low-density polyethylene, expanding product portfolio. #petrochemicals #polyethylene
1986 CE
Supply agreement with local plastics industry
EPC signs long-term supply agreements with Egyptian plastics manufacturers, securing domestic market share. #petrochemicals #egypt
May 1, 1987 CE
Wins 'Best Industrial Company' award
EPC receives the award from the Egyptian Federation of Industries for outstanding performance. #petrochemicals #award
Sep 1, 1988 CE
First export shipment to Europe
EPC exports its first batch of polyethylene to European markets, marking its entry into international trade. #petrochemicals #exports
Apr 1, 1989 CE
ISO 9001 certification achieved
EPC becomes one of the first Egyptian industrial companies to receive ISO 9001 quality management certification. #petrochemicals #quality
Mar 1, 1990 CE
Expansion with new cracker unit
A second ethylene cracker unit is added, increasing total capacity to 200,000 tons per year. #petrochemicals #expansion
1991 CE
Revenue crosses EGP 200 million
Annual revenue exceeds EGP 200 million for the first time, driven by rising production and exports. #petrochemicals #finance
Jun 1, 1992 CE
Dr. Ahmed El-Sayed appointed CEO
Dr. Ahmed El-Sayed becomes CEO, bringing extensive experience and leading the company through a growth phase. #petrochemicals #leadership
Oct 1, 1993 CE
Polypropylene production starts
EPC begins producing polypropylene, diversifying into a high-demand product line. #petrochemicals #polypropylene
Feb 1, 1994 CE
Joint venture with SABIC
EPC and SABIC form a joint venture to build a new polyethylene plant, enhancing production capabilities. #petrochemicals #jointventure
1995 CE
Record production of 500,000 tons
Annual output reaches a record 500,000 tons, reflecting successful expansions. #petrochemicals #production
Nov 20, 1996 CE
Listed on the Egyptian Exchange
EPC lists on the Egyptian Stock Exchange (EGX) under ticker 'EPCO', raising capital for further expansion. #petrochemicals #finance #IPO
Jan 1, 1997 CE
IPO oversubscribed by 3x
The IPO attracts strong investor demand, with subscriptions exceeding supply threefold, indicating market confidence. #petrochemicals #finance
1998 CE
Market capitalization reaches EGP 1 billion
EPC's market cap tops EGP 1 billion, making it one of the largest industrial firms on the EGX. #petrochemicals #finance
Jul 1, 1999 CE
Acquires El-Nasr Petrochemicals
EPC acquires smaller competitor El-Nasr Petrochemicals, consolidating its market position. #petrochemicals #acquisition
Apr 1, 2000 CE
Implements SAP ERP system
EPC deploys SAP enterprise resource planning system to improve operational efficiency and reporting. #petrochemicals #technology
Dec 1, 2001 CE
Wins Excellence in Export award
EPC receives the Egyptian Export Award for its contribution to non-oil exports. #petrochemicals #exports
Aug 1, 2002 CE
Launches R&D center
A new research and development center is opened to drive innovation in catalyst and process technology. #petrochemicals #innovation
2003 CE
Revenue exceeds EGP 1 billion
Annual revenue surpasses EGP 1 billion, driven by strong sales and favorable market conditions. #petrochemicals #finance
Mar 1, 2004 CE
Strategic partnership with BASF
EPC signs a strategic partnership with BASF for technology collaboration and product development. #petrochemicals #partnership
Oct 1, 2005 CE
Capacity expanded to 1 million tons
Completion of a major expansion boosts total production capacity to 1 million tons per year. #petrochemicals #expansion
May 1, 2006 CE
First dividend declared after reorganization
EPC announces its first dividend payment following a corporate restructuring. #petrochemicals #finance
Jan 15, 2007 CE
CEO succession: Mohamed Abdel Aziz
Dr. Ahmed El-Sayed retires and Mohamed Abdel Aziz takes over as CEO, emphasizing operational efficiency. #petrochemicals #leadership
2008 CE
Global financial crisis impact
The financial crisis reduces demand, but EPC maintains profitability due to cost controls and domestic focus. #petrochemicals #crisis
Sep 1, 2009 CE
Government increases stake to 51%
As part of a restructuring plan, the Egyptian government increases its ownership in EPC to 51%, ensuring strategic control. #petrochemicals #egypt
Jun 1, 2010 CE
New ethylene cracker unit commissioned
A third ethylene cracker unit is commissioned, increasing total ethylene capacity to 400,000 tons per year. #petrochemicals #expansion
Feb 1, 2011 CE
Egyptian Revolution halts production
Production is temporarily suspended due to the political upheaval, but EPC resumes within weeks. #petrochemicals #egypt
Apr 1, 2012 CE
Restarts production, domestic focus
EPC restarts full operations and refocuses on the domestic market to mitigate export uncertainty. #petrochemicals #egypt
2013 CE
Net profit reaches EGP 500 million
EPC reports a net profit of EGP 500 million, a recovery from the previous year's slowdown. #petrochemicals #finance
Aug 1, 2014 CE
Expansion partnership with Mitsubishi
EPC partners with Mitsubishi to build a new polyethylene plant with a capacity of 150,000 tons per year. #petrochemicals #jointventure
2015 CE
Record revenue of EGP 3 billion
Annual revenue hits EGP 3 billion, driven by high global oil prices and increased production. #petrochemicals #finance
Nov 3, 2016 CE
Egyptian pound flotation impacts operations
The flotation of the Egyptian pound leads to currency devaluation, benefiting exports but raising input costs. #petrochemicals #egypt
Apr 15, 2017 CE
40th anniversary celebration
EPC celebrates its 40th anniversary with events highlighting its contribution to Egyptian industry. #petrochemicals #anniversary
Sep 1, 2018 CE
Khaled Abou Bakr appointed CEO
Khaled Abou Bakr becomes CEO, focusing on digital transformation and sustainability. #petrochemicals #leadership
Mar 1, 2019 CE
Agreement for new polypropylene plant
EPC signs an agreement to build a new 200,000-ton polypropylene plant with international partners. #petrochemicals #expansion
Mar 1, 2020 CE
COVID-19 pandemic challenges
The pandemic disrupts supply chains and demand, but EPC adapts with safety protocols and remote work. #petrochemicals #pandemic
Nov 1, 2021 CE
Launches 'Green Petrochemicals' initiative
EPC launches a sustainability initiative focusing on reducing carbon emissions and producing eco-friendly products. #petrochemicals #sustainability
2022 CE
Net profit of EGP 2.5 billion
EPC reports a net profit of EGP 2.5 billion, a record high, benefiting from higher margins. #petrochemicals #finance
Jun 1, 2023 CE
Expansion into ammonia production
EPC announces plans to build an ammonia plant to diversify into fertilizers and capitalize on energy market trends. #petrochemicals #diversification