Egypt’s Misr Petroleum to open new $33mn-warehouse in Badr City by 2017

Egypt-based Misr Petroleum company is currently establishing a warehouse in Badr city with investments worth around US$33 million, Chairman Mohamed Shaaban stated Monday.

The chairman told Amwal Al Ghad that the construction works at the new project are scheduled to be finished by the end of 2016 to start operating by the beginning of 2017.

This comes among Misr Petroleum expansionary plan to establish a massive number of warehouses within the coming period, the chairman noted.

He clarified that the plan targets covering market’s needs of oil and petroleum products notably in remote areas that has small number of warehouses.

The new warehouse -whose construction works started in January 2015- is set to participate largely in securing massive amounts of oil and petroleum products, chairman Shaaban clarified.

On other side, the strategy of Egyptian oil ministry for 2016 included expanding in building warehouses in different areas and governorates all over Egypt notably the Upper Egypt to meet state’s wholes needs.