Cairo, February 21, 2024 – Korra Energi, a prominent company specializing in contracting, energy efficiency, supplies, and facilities management, signed a cooperation protocol with Sidi Kerir Petrochemical Company (Sidpec) yesterday). The goal of this partnership is to establish a joint-stock company that will work together to promote energy efficiency and reduce carbon emissions in various sectors such as oil, gas, petrochemicals, industrial activities, waste exhaust recovery, and dual energy generation.
Commenting on this partnership, Engineer Ayman Korrra, Chairman of the Board of Directors of Korra Energy Company, stating: “Our cooperation with Sidpec is a permanent and joint cooperation, in line with the state’s strategy to enhance energy efficiency and reduce thermal emissions. He emphasized the economic and environmental benefits of the partnership, and that Egypt is now part of the solution and not part of the problem.” He continued, “Our partnership with Sidpec is a partnership for which we wish success and sustainability in light of serious and committed cooperation, which will enable us to begin implementation immediately after completing the agreement.” Regarding the new partnerships that Korra Energi seeks, he said, “There is a strong and promising competitive market, which calls on us to expand and strive to have many major partnerships, which will be announced in due course.”
Engineer Mohamed Ibrahim, Chairman of the Board of Directors and Managing Director of Sidi Kerir Petrochemical Company (Sidpec), expressed his satisfaction with this cooperation, saying: “We are proud of our partnership with a leading entity such as Korra Company that has a deep commitment to its projects, and we are reassured by Korra’s efficient performance and skill in implementing its projects.”
Dr. Mohamed Salah El-Din, General Manager of Quality, Energy and Business Excellence at Sidpec, said: “Sidpec’s cooperation with Korra is the beginning of a different phase of Sidpec’s activity. We aim for various expansions and building new business models, and today’s agreement is the most important step for that. We care about sustainability and clean energy, and we are certain that we will work together on some projects related to electricity, heat, and various applications of energy efficiency, and we will begin this quickly as long as we have experience in operations and production at Sidpec and the expertise of Korra Energy, which will strengthen relations in the future and create a large area of opportunities based on integrated experiences from this integration that will take place between the two companies,” pointing out that this cooperation with Korra Energi is not the first of its kind, explaining that it is not possible for a company of Sidpec’s value to enter into cooperation with another company without previous experience in dealing and competence.
In turn, Engineer Mohamed Medhat, Executive Director at Korra Energi’s Sustainable Green Energy Business Unit, said about the signing of the agreement today: “This partnership is a large part of the solution to energy problems. We face major challenges in completing projects to raise energy efficiency. There are many protocols being signed, but they remain merely a signed protocol from which nothing happens on the ground, but with Korra Energi’s partnership with Sidpec, there will be rapid steps. Sidi Kerir Petrochemical Company is one of the leading companies in the petrochemical sector and the state relies on it as a pioneering model, which makes its projects under rapid implementation. He continued, “It is not the first time in Cooperation with Sidpec Company. This was preceded by a project worth $ 16 million that was signed in the middle of last year, and it is the first project of its kind in this form and manner in the entire sector.” Regarding the upcoming projects of Korra Energi, Engineer Muhammad Medhat said, “We have 8 projects ready for implementation. We have begun in one of them which is the first of its kind and is being followed up by His Excellency the Minister of Petroleum, in addition to the rest of the projects that are now being prepared. I believe that this year will be full of Korra Energi projects and partnerships.”
It is worth noting that Korra Energy has been working for more than 25 years to localize energy efficiency technology with the aim of achieving environmental and economic benefits and reducing emissions and the carbon footprint. Korra Energi is an Egyptian joint stock company specializing in designing and implementing sustainable solutions to raise energy efficiency in the following areas: thermal energy recovery wasted energy, generating triple energy, stopping the burning and re-exploitation of torch gas at petroleum production sites and refineries, and many other solutions that will increase energy efficiency.
Korra Energi has also implemented a package of projects to reduce carbon emissions for the benefit of other companies and benefit from wasted energies and re-exploit them to produce other energies. One of its most prominent projects is the triple power station project recently inaugurated by President Abdel Fattah El-Sisi, which is considered the first of its kind in Egypt and Africa, and its main goal is to maximize the benefit of natural gas.
