El Molla announces loan closure for Assiut’s diesel hydrocracking complex project

Minister of Petroleum and Mineral Resources Tarek El-Molla stated reaching the closure of the loan for the diesel production project (the hydrocracking complex for diesel) in Assiut is a success for all participants. 

El Molla confirmed the economic feasibility of this vital project, which serves residents of Upper Egypt and will provide a significant contribution to fuel supplies for growth and development projects in southern Egypt.

The cooperation that took place in providing this financing in light of the current global changes confirms the extent of everyone’s conviction in it and gives strong indications of its success, El Molla said, pointing to the unremitting efforts made by everyone in this framework.

El Molla thanked all those who participated in this huge work, and everyone who cooperated in overcoming the challenges it faced during the completion of its financing procedures, indicating that this will give a strong impetus to speed up the project and put it on the production map, and then increase the security of supplies and market stability.