ICEC

Egyptian Refining Co.’s $3.6 bln plant will start up in 6 months

Egyptian Refining Co.’s new $3.6 billion processing plant will begin operations within six months, its Chairman, Ahmed Heikal, said.

He made these comments during the 3rd “Egypt Investment Forum”, referring that  the total value of loans given to the project has reached $2.6 billion.

ERC plant is  a public-private venture, Once operational it will reduce Egypt’s need for imported diesel by about 50 percent and for imported gasoline by some 20 percent.

The new plant will satisfy about 14 percent of Egypt’s annual need for liquid oil products, with capacity to produce as much as 4.2 million tons a year of liquid products as well as 600,000 tons a year of sulfur and coke.

It will be able to produce 2.3 million tons of diesel, 600,000 tons of jet fuel and 522,000 tons of gasoline, in addition to butane gas and naphtha.

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