CAIRO - 7 March 2024: the Midor refinery's expansion project is a significant contributor to the Egyptian economy, involving a substantial investment of $2.7 billion. This endeavor enhances the annual output capacity of petroleum products by an impressive 3 million tons.
Minister of Petroleum and Mineral Resources, Tarek El Molla, shared this information while conducting an inspection tour to Alexandria alongside Prime Minister Mostafa Madbouly.
El Molla further disclosed that the project aims to boost the production of petroleum products by augmenting the current refining capacity from 100,000 to 160,000 barrels per day.
This increase is projected to raise production levels by up to 60 percent. Once completed, the total production capacity of the refinery is expected to reach approximately 7.6 million tons annually.
In recent developments, Madbouly visited the artificial silk and polyester factory in Kafr El Dawar and is presently route to the Alexandria port to oversee the release of goods.
Madbouly highlighted that Egypt imports a significant amount of polyester, with an annual value close to $800 million.
Furthermore, he inspected the Tahya Misr multi-purpose station, specifically platforms 55-62, as part of Egypt's port development efforts. This initiative aims to bolster Egypt's position as a global trade hub and maximize the benefits derived from its strategic geographical location.
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