{"id":637223,"date":"2017-11-12T04:00:21","date_gmt":"2017-11-12T04:00:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/"},"modified":"2017-11-12T04:00:21","modified_gmt":"2017-11-12T04:00:21","slug":"qalaa-holdings-erc-plans-to-open-refinery-in-september-2018","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/","title":{"rendered":"Qalaa Holdings\u2019 ERC plans to open refinery in September 2018"},"content":{"rendered":"

<\/a> In other energy news, the Egyptian Refining Company (ERC) is expected to begin operations in September 2018<\/strong>, said Ahmed Heikal, chairman of Qalaa Holdings, which has led the development of the megaproject and which holds a 19% stake in the facility. The USD 3.7 bn plant in Mastorod, which hopes to save the government some USD 300 mn in costs associated with fuel imports each year, will be completed in June after a number of delays. Capacity utilization is expected to hit 98% by the end of 2018, Heikal tells Bloomberg<\/a>. The new plant will satisfy about 14 percent of Egypt\u2019s annual need for liquid oil products, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

In other energy news, the Egyptian Refining Company (ERC) is expected to begin operations in September 2018, said Ahmed Heikal, chairman of Qalaa Holdings, which has led the development of the megaproject and which holds a 19% stake in the facility. The USD 3.7 bn plant in Mastorod, which hopes to save the government some […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637223","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"301c39de-64e4-4e90-beb5-bd823dedd3a3","order":"0","is_powered_by":true,"section_story_id":"9fdc7ee7-be5e-4ae6-8446-83ec162ebbb6","story_type":"1","photo_url":"","photo_position":"above","related_issue":[637211],"teaser":"","voice_url":""},"yoast_head":"\nQalaa Holdings\u2019 ERC plans to open refinery in September 2018 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Qalaa Holdings\u2019 ERC plans to open refinery in September 2018\" \/>\n<meta property=\"og:description\" content=\"In other energy news, the Egyptian Refining Company (ERC) is expected to begin operations in September 2018, said Ahmed Heikal, chairman of Qalaa Holdings, which has led the development of the megaproject and which holds a 19% stake in the facility. The USD 3.7 bn plant in Mastorod, which hopes to save the government some […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-11-12T04:00:21+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Qalaa Holdings\u2019 ERC plans to open refinery in September 2018\",\"datePublished\":\"2017-11-12T04:00:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/\"},\"wordCount\":112,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/qalaa-holdings-erc-plans-to-open-refinery-in-september-2018\/\",\"name\":\"Qalaa Holdings\u2019 ERC plans to open refinery in September 2018 - 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El Khazindar\u2019s remarks come as the outlook for equity offerings\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598669,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/30\/qalaa-holdings-completes-final-funding-round-for-erc\/","url_meta":{"origin":637223,"position":2},"title":"Qalaa Holdings completes final funding round for ERC","author":"enterpriseam admin","date":"30 May 2019","format":false,"excerpt":"Qalaa Holdings has completed the final USD 120 mn funding round for its Egyptian Refining Company (ERC), including a capital increase of USD 70 mn and loans at a combined total of USD 50 mn, Al Mal reported. The funding will be used to restructure its debts, Chairman Ahmed Heikal\u2026","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":628779,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/14\/qalaa-plans-to-list-multiple-subsidiaries-beginning-2h2019-erc-to-start-trial-operations-by-november\/","url_meta":{"origin":637223,"position":3},"title":"Qalaa plans to list multiple subsidiaries beginning 2H2019, ERC to start trial operations by November","author":"enterpriseam admin","date":"14 May 2018","format":false,"excerpt":"IPO WATCH- Qalaa plans to list some of its subsidiaries on the EGX beginning 2H2019: Qalaa Holdings is planning to list multiple subsidiaries on the EGX while retaining stakes in them, our friend Ahmed Heikal tells Al Shorouk. The Qalaa founder and chairman said he expects to begin listing these\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":595038,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/15\/qalaa-declares-all-units-at-erc-are-a-go\/","url_meta":{"origin":637223,"position":4},"title":"Qalaa declares all units at ERC are a go","author":"enterpriseam admin","date":"15 September 2019","format":false,"excerpt":"Qalaa declares all units at ERC are a go: The Egyptian Refining Company (ERC) has successfully begun hydrocracker operations, Qalaa Holdings said in a bourse filing on Thursday (pdf). 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