Egypt’s Ministry of Petroleum and Mineral Resources announced plans to make investments of $9 billion in new refining and petrochemical facilities.
The projects, which are now in the development or building stages, are intended to help Egypt enhance its refining capacity and petrochemical production.
One of the largest projects is the expansion of the Midor refinery in Alexandria. The expansion, which is valued at $3.5bn, will increase the refinery’s capacity by 30%. The project is expected to be completed in 2024.
Another major project is the construction of a diesel production complex at Assiut’s ANOPC. The complex, which is valued at $2bn, is expected to be completed in 2025.
The Egyptian government has also announced intentions to invest in additional refining and petrochemical projects, including a coking complex and diesel production at the Suez Petroleum Processing Company.
Furthermore, these initiatives include a condensate distillation project at Nasr Petroleum Company in Suez and an air distillation project at Assiut’s oil refinery.
The ministry’s investment in these projects is part of a broader strategy to develop Egypt’s petroleum refining industry and increase its production capacities. The strategy has been successful in doubling the domestic production of petrochemical materials to more than 4.3 million tons annually by the end of 2021/22.
The ministry expects that the new refining and petrochemical projects will help Egypt reduce its reliance on imports and create jobs. The projects are also expected to boost Egypt’s economic growth and attract foreign investment.
Egypt Announces Investing $9bn In New Refining, Petrochemical Projects
Egypt’s Ministry of Petroleum and Mineral Resources announced plans to make investments of $9 billion in new refining and petrochemical facilities.
The projects, which are now in the development or building stages, are intended to help Egypt enhance its refining capacity and petrochemical production.
One of the largest projects is the expansion of the Midor refinery in Alexandria. The expansion, which is valued at $3.5bn, will increase the refinery’s capacity by 30%. The project is expected to be completed in 2024.
Another major project is the construction of a diesel production complex at Assiut’s ANOPC. The complex, which is valued at $2bn, is expected to be completed in 2025.
The Egyptian government has also announced intentions to invest in additional refining and petrochemical projects, including a coking complex and diesel production at the Suez Petroleum Processing Company.
Furthermore, these initiatives include a condensate distillation project at Nasr Petroleum Company in Suez and an air distillation project at Assiut’s oil refinery.
The ministry’s investment in these projects is part of a broader strategy to develop Egypt’s petroleum refining industry and increase its production capacities. The strategy has been successful in doubling the domestic production of petrochemical materials to more than 4.3 million tons annually by the end of 2021/22.
The ministry expects that the new refining and petrochemical projects will help Egypt reduce its reliance on imports and create jobs. The projects are also expected to boost Egypt’s economic growth and attract foreign investment.
