Strategic Partnership Unveiled: SIDPEC and Korra Energy Sign Framework Agreement for Green Energy Efficiency Projects


Within the framework of the Ministry of Petroleum and Mineral Resources' strategy for energy transformation and encouraging subsidiaries to increase their investments and expand their operations to improve economic performance and meet the needs of the local market and the development plans implemented by the state. Based on Sidpec's commitment to expansion and exploration of non-traditional investment opportunities, creating new business models, and aligning with the Egyptian Holding Company for Petrochemicals' directions. During the second day of the Egypt International Energy Exhibition and Conference (EGYPS) 2024, Eng./Tarek El Molla, Minister of Petroleum and Mineral Resources, witnessed the signing of a framework agreement between Sidi Kerir Petrochemicals Company (Sidpec) and Consource for Commercial Agencies and Technical Consultations (korra Energy). The agreement expresses intentions to establish a joint-stock company representing general cooperation and a long-term partnership in the fields of energy efficiency and sustainability in the Egyptian and regional markets. The aim is for this company to be a leader in designing, building, operating, maintaining, and managing environmentally friendly energy efficiency systems specialized in industrial applications, specifically serving the petrochemical, petroleum, and gas industries to achieve technical, economic, and environmental added value at all levels of electricity and heat energy consumption and resources. The agreement was signed by Eng./ Mohamed Ibrahim, Chairman of the Board and Managing Director of Sidpec, and Eng./ Mohamed Ayman Fareed, President of korra Energy, in the presence of leaders from both companies.

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