Technical studies for the USD 1.9 bn second phase of Middle East Oil Refinery’s (MIDOR) expansion were completed and funding is being arranged, chairman Mohamed Abdel Aziz says, Al Masry Al Youm reports. The second phase will increase production capacity by 60%. The first phase expansion was concluded in 2016 and increased capacity by 15%, he says.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…