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A trader works at the Egyptian stock market in Cairo .Mohamed Abd El Ghany
The EPP, located in Port Said, is the largest and only integrated Propylene and Polypropylene producer using propane dehydrogenation in Egypt and North Africa, the carpet manufacturer said in a bourse disclosure on Monday.
The company has the capacity to produce 350,000 metric tonnes of polypropylene each year.
It exports 70-80% of its production, which means it generates a steady stream of USD-denominated, tax-exempt cash flow thanks to its free-zone status.
In 2020, Oriental Weavers Carpet logged EGP 1.11 billion in consolidated net profits, down from EGP 855.07 million a year earlier, including minority shareholders’ rights.
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