AMOC to invest USD 50 mn over 3 years to reduce carbon footprint

The Alexandria Mineral Oils Company (AMOC) is planning on investing USD 50 mn over the next three years to upgrade its gasoline production quality and reduce its carbon footprint, Al Borsa reports. The upgrades are also expected to raise the company’s revenues by USD 6-7 mn per annum, sources tell the newspaper. The company plans on using debt to fund the upgrades.