Midor Refinery invests $2.3B in new expansions

CAIRO – 22 March 2021: New expansions that are currently carried out by Midor Refinery Company aim to increase the refinery's production capacity by 60 percent, according to Minister of Petroleum and Mineral Resources, Tarek el-Molla.

Molla added that the expansions are planned to be completed and put on production in the first quarter of 2022, at an investment cost of about $ 2.3 billion.

He added in a statement, Monday, that the Midor refinery is one of the distinguished refineries that have an important role in providing a large part of petroleum products to the local market, especially gasoline and diesel, and that the new expansions project represents a quantum leap in the refining system and will contribute to the sustainability of the stability of the petroleum products market.

This came during Molla’s presiding over the work of the General Assembly of MIDOR refinery to approve business results for the year 2020, in the presence of Abed Ezz El Regal, CEO of the Petroleum Authority, Ashraf Qutb, Deputy Minister for Financial Affairs, and Ahmed Raafat, First Deputy of the Central Auditing Organization, through video conference.

During the meeting, the minister directed the importance of adhering to the timetables for the implementation of the new expansions project and working to overcome any obstacles that may hinder the implementation stages and work to increase the percentage of the local component in the implementation of major petroleum projects.

He pointed to the important role played by the companies Enppi and Petrojet in the implementation of the project, which comes within a number of new refining projects that are being implemented and which will be completed in succession during the next two years, which contributes to the implementation of the Ministry's plan to achieve self-sufficiency in petroleum products (gasoline and solar) by 2023.

He stressed the importance of the safe operation of this system by adhering to occupational safety and health measures, preserving the environment, and following all precautionary measures to prevent corona virus to protect workers and their families, without affecting the production process.