Oil Egypt accountACCOUNT King Tut

Investments of Oil Refinery & Complex in New Alamein Hit $ 8.5B

Source: www.gulfoilandgas.com 1/21/2019, Location: Egypt

Share |
Minister of Petroleum and Mineral Wealth Tarek el Mulla asserted that the project of establishing a refinery and petrochemicals complex in the New Alamein district is currently under study as the initial estimates of its investment cost hits dlrs 8.5 billion.

The minister's remarks were made during his presidency of the General Assembly meeting of the Egyptian Petrochemicals Holding Company (ECHEM) to approve its draft budget for the fiscal year 2019/2020.A statement released by the Ministry of Petroleum said that the minister explained during the meeting the expansion program of the petrochemicals project to cope up with the increasing needs of the market.

He added that the oil sector is currently working on carrying out an integrated plan for the development of the petrochemicals industry and creating an appropriate atmosphere for luring more investments to this vital sector.

Meanwhile, Chairman of ECHEM Saad Helal said the New Alamein Complex project aims at producing around 1.5 million tons of specialized petrochemicals and around 1.9 million tons of petrochemical products such as (butane gas, Kerosene, Mazot and diesel).

He added that other expansion projects include Sidi Kerir Petrochemicals Company (Sedpec) with total investments that hit dlrs 1.25 billion and a production capacity of 450,000 tons annually.Other planned projects include Suez Company, the development of the naval quay, facilitation of shipping and storage of Mopco company with investments of dlrs 190 million, Helal added.

Helal also asserted that ECHEM was committed to applying industrial security standards and environment protection plans along with maintaining its strategy to developing the petrochemicals sector and raise its productivity rates.

For more information about related Opportunities and Key Players visit Egypt Oil and Gas Projects

Egypt >>  9/2/2019 - The Ministry of Petroleum said 10 exploratory wells were dug in the Western Desert and they went online in a record time with a daily average output o...
Egypt >>  8/26/2019 - Prime Minister Mostafa Madbouli said that the state attaches great importance to the petroleum sector due to its vital role in pushing forward develop...

Egypt >>  9/25/2014 - Egypt's state-run Egyptian General Petroleum Corporation (EGPC) declared that Egypt received a share of the foreign partnerís oil and gas revenues of ...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Detergents  Diesel Fuel  Enhanced Oil Recovery  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Oil Production & Treating  Polyethylene  Polyvinyl chloride  Propane  Summer Diesel 

Related Articles: Butene  Crude Oil  Diesel Fuel  Ethylene  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Lubricants, Oils & Greases  Oil Production & Treating  Polyethylene  Polyvinyl chloride  Propane 

More News

Oil & Gas Projects in Egypt >>

Oil & Gas Companies in Egypt >>

Related Links

Oil Egypt E-Marketplace - Subscription Packages - Benefits

Copyright © Universal Solutions S.A.E. All rights reserved. Privacy Policy. - Career Opportunities - Feedback - Contact Us