5 consortiums apply to establish oil complexes in Egypt with $321M investments
According to Egypt today, Minister of Supply and Internal Trade, Ali Al-Moselhi, stated that “about four or five local and foreign consortiums have applied for investment opportunities to establish three oil complexes, with investments estimated at $321 million”.
In remarks on the sidelines of the inauguration of the Cairo Chamber’s Center of Excellence, Ali Al-Moselhi added that these offers are studied, emphasizing that the government seeks private-sector participation.
The Ministry of Supply had announced offering investment opportunities in the oils sector, including three complexes for the production of oils, the first site in the city of Burj Al Arab on an area of 137 thousand square meters, and includes an extraction plant with an annual capacity of 900 thousand tons of seeds, and a refining and bottling plant with annual capacity of 2400 tons, in addition to a margarine production plant with annual capacity of 90,000 tons.
The second opportunity is in Sadat City an area of 210,000 square meters and includes the oil refinery and bottling plant with a capacity of 240,000 tons annually, and the third area is in Sohag an area of 120,000 square meters and with a capacity of 240,000 tons annually.