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Draslovka and Austrian Petrochemical Holding look to build a production facility in Egypt

Translated by Milo Dvorak

29. 4. 2024

Business Newsletter #28

I think the Czech Republic is quite well-known for having well-established and renowned experts not only in the chemical industry, perhaps, according to some, dating back as far as the reign of Emperor Rudolph II. Whether the latter is true or untrue remains unclear, but the former is arguably true, as evidenced by deals such as this one.

Published by on 27 April 2024.

newsletter 29
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Draslovka, a Czech chemical company, is looking to build a sodium cyanide production plant in Egypt with the collaboration of Petrochemical Holding, a business from Austria. The investment is expected to reach 3.8 billion Czech crowns in its first phase. Twenty per cent of the production will stay in Egypt with the remaining 80 per cent will be distributed across markets around the Mediterranean Sea, the Middle East and Africa, as reported by Seznam Zprávy.

Representatives from both companies have already met with the Egyptian Minister of Trade and Industry, Ahmed Samir. "Draslovka has been keen to start production in Africa for some time now, as it is one of our key markets. Austrian Petrochemical Holding, to whom we have sold a license to produce sodium cyanide, will be involved in the new production facility project provided it materialises," Draslovka's spokesperson Erik Švamberk told the news site.

Discussions about potential collaboration are still in the early stages, according to Švamberk, with Petrochemical Holding likely to be the main investor. According to Samir's statement, Egyptians welcome the project, which has already received approval from the relevant authorities to secure energy and raw material requirements. However, the exact location of the plant has not yet been determined.

The news site noted that Petrochemical Holding was currently owned by Russo-Austrian businessman Yakov Goldovskij, who was arrested in Russia in 2002. He was sentenced to seven months in prison for financial machinations but did not serve the sentence as he had already spent time in custody. Petrochemical Holding was founded in Austria in 1996.

Draslovka Holding is a private holding company based in the Czech Republic, having expertise in the production of special chemical substances and proprietary production technologies. It is the world's largest producer of sodium cyanide, used in gold mining.

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