Egypt’s Qalaa Holdings to operate 100% of refinery units in January – official

By Amwal Al Ghad English On Oct 20, 2019

Ahmed Heikal Qalaa Holdings — Qalaa Holdings Chairman Ahmed Heikal at Qalaa's section at the Egypt Economic Development Conference (EEDC) in Sharm el-Sheikh, in the South Sinai governorate, south of Cairo, March 14, 2015. (Photo Credit: REUTERS/Amr Abdallah Dalsh)

Qalaa Holdings, one of the country’s largest investment firms, will operate 100 percent of its refinery units in January and will increase its refinery production capacity to 5.5 million tonnes per year, the company’s chairman told Reuters.

Ahmed Heikal also said the company will offer shares of Taqa Arabia and Egyptian Refining Co in the second and fourth quarters of 2020 on the stock market, without giving details of the quantity of shares to be sold.