Egypt carrying out oil refining megaprojects worth $9 bln

Six megaprojects with investments worth $9 billion are being carried out in the field of oil refining in Egypt, Minister of Petroleum Tarek El Molla said on Saturday.
These projects come as part of ongoing efforts to develop the Egyptian oil refining sector, El Molla said during his inspection of a project being carried out by the Egyptian Refining Company in the Mosturod district of Cairo.

The new project, which cost $1.3 billion, is meant to meet the local market's needs for oil and high-octane gasoline, the minister added.