Sidi Kerir Petrochemicals Co. (CASE:SKPC) agreed to acquire The Egyptian Ethylene and Derivatives Company on October 12, 2022. The board of directors of Sidpec approved hiring NI Capital to study the proposed acquisition.

NI Capital will provide consulting services and technical knowledge to Sidpec and assist it with the required procedures through a share swap mechanism after evaluating. As on July 17, 2023, Sidi Kerir board approved the deal. As of September 21, 2023, The postponement will be until finalizing procedures for a strategic investor studying the acquisition of stake in ETHYDCO through the partial exit of some of the company's shareholders.