ICEC

Petroleum minister: Soon a new law for Mineral Resources

Eng. Abdallah Ghorab, minister of Petroleum & Mineral Resources, said that government will provide PA with the project of a new law for mineral resources in order to encourage the investment in this important sector and to increase the added value of the extracted raw materials instead of exporting it.

He mentioned that the existing law, issued in 1956, doesn’t suit the changes of extracting mineral resources field.

He added that the ministry’s priorities during the coming period are saving the petroleum products and ensure that reach the citizen easily, according to protecting the social dimensions and low income. This is through the state’s support for the petroleum products which reach EGP 100 billion this year, and saving cash for purchasing the imported petroleum products by which completing the country’s needs of petroleum products will be done.

The minister also said that a new plan for transporting gas to 750 thousand residential units, with investment cost EGP 2.2 billion, has been set, in addition to the expansion of constructing stations that gas cars up with natural gas and also delivering it to brick kilns, as this to limit the use of petroleum and Solar in order to save them for citizens.

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