The Egyptian Petrochemicals Holding Company (ECHEM) will complete a study on the proposed $2 billion propylene project by the end of this year, said a senior official from ECHEM.

ECHEM vice-president Hussien Ismail refused to reveal the names of the international offices that are currently studying this project, said a report in Daily News Egypt.

ECHEM is due to complete the ethylene production project estimated at $1.9 billion by the end of this year, it added.

He also said that the project will be operational by the end of this year.

A total of 460,000 tonnes of ethylene will be produced annually and provided to the local market.