Oil Ministry: $2.8B value of investment costs of three refining projects

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Wed, 24 Jun 2020 - 12:30 GMT

A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson

A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson

CAIRO - 24 June 2020: The Higher Committee for Petroleum Projects under Petroleum Minister Tarek El Mulla discussed on Wednesday new oil refining projects.

Molla said in a statement that they discussed three major oil refining projects in Alexandria, Assiut and Suez at an investment cost of about $2.8 billion.

The committee discussed timetables of implementing these projects and increasing rates of implementation given the current hard times in Egypt due to the spread of the coronavirus, he added.

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