Egypt to build a US$2.5bn oil refinery to transform mazut into high value petroleum products

EGYPT – Egypt has signed a contract for the construction of a US$2.5 billion hydrocracking complex in Assiut to refine mazut, a low-value product, and transform it into petroleum products of a higher value. According to Egypt Independent, the contract for largest oil refining project to be implemented in Upper Egypt was signed in the presence of Petroleum and Mineral Resources Minister Tarek al-Mulla. The project which will be executed by Enppi and Italy’s Techinp Fmc Engineering hopes to maximize the utilization of state resources by taking advantage of the…

Read More