Petroleum Ministry studies $4B refinery project with Toyota

CAIRO – 13 July 2017: The Ministry of Petroleum is conducting feasibility studies of a project to establish $4 billion refinery project in cooperation with Japanese manufacturer Toyota, Petroleum Minister Tarek el-Molla said Thursday.

Molla said in a press conference that the feasibility studies will take 28 weeks.

In a meeting with Prime Minister Sherif Ismail on Thursday, Molla said that two new areas were allocated for gold manufacturing and grinding.

Both ministers agreed to tighten penalties of illegal mining and gold smuggling.

The meeting also tackled the petrochemical project in the Suez Canal Economic Zone, in cooperation with the Ministry of Public Business Sector.

Molla further discussed oil and gas exploration operations after updating maritime borders with Saudi Arabia.