PM follows up refining, petrochemicals projects in Suez

CAIRO - 13 July 2017: Prime Minister Sherif Ismail met on Thursday with Petroleum Minister Tarek el Mulla to follow up refining and petrochemicals projects in Suez as well as efforts to face illegal exploration for gold.

During the meeting, they also discussed a bill to toughen penalty on illegal exploration for precious metals.

The meeting reviewed the new areas that will be put up for bidding for exploration in the Red Sea after the approval of the Egyptian-Saudi maritime border demarcation deal.

They also discussed the establishment of a petrochemical factory in Suez governorate at a cost of four billion dollars. The project will be funded by a number of international and foreign organizations. The feasibility study of the project will be finalized in August.

The prime minister also directed to establish a factory by Al Shalatin Co. to grind rocks explored by the factory as an initial refinement to explore gold.