The planned USD 8.5 bn petroleum refining complex in New Alamein is expected to produce some 3.4 mn tonnes of refined crude per year, according to an Oil Ministry statement. State-owned Egyptian Petrochemical Holding Company completed its studies on the complex, which is set to come online in 2024, last December. Egypt will also stop importing refined oil products as we reach self-sufficiency in three years’ time, Oil Minister Tarek El Molla said, according to Al Masry Al Youm.

Tags: