Egypt to announce 12 petroleum projects
Egypt’s Ministry of Petroleum announced on Monday it was prepared to reveal details of 12 projects during the Economic Development Conference scheduled to be held in Sharm el-Sheikh next month.
According the ministry, eight of the proposed projects will involve refining petrochemicals, with estimated investments of US$ 4.13 billion, along with 4 projects in crude products and mineral wealth, costing $1.98 billion.
The projects will include establishing oil processing companies in Suez, high-octane gasoline production units affiliated to an Asyut oil refinery company.
It also involves creating a new distillery unit in an American company, and biofuel production from rice straw and other similar projects.