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Egypt aims to overcome acute energy shortages.

Egypt to offer $10bn petroleum projects to investors

CAIRO, March 8, 2015

Egypt will highlight a total of 12 petroleum, petrochemicals and minerals projects worth $10 billion to potential global investors at an upcoming economic development summit in Sharm El-Sheikh, a report said.

Egypt aims to boost local production of petroleum commodities and industrial chemicals with these projects, the Ahram Online report said, citing the country’s petroleum ministry.

Egyptian banks will offer seven projects worth $5 billion, the report said, adding that these include a hydrocracking complex at the Assiut Oil Refinery Company at a cost of $2.8 billion, and a phosphate fertilisers and phosphoric acid plant worth $1.2 billion.

A $430 million complex with an annual production capacity of  375,500 tonnes of petroleum commodities will be highlighted at the global conference, as well as a venture to construct a $299 million bio ethanol plant.

A 100-kilometre Sohag to Assiut LNG, as well as a Sohag to Aswan line of 500 Kilometres, at a cost of $35 million and $201 million respectively, will also be the show, the report said.

Other proposals include a propylene production plant at a cost of $2.5 billion to lay out 250,000 tonnes of the gas annually; an aromatics and fertilisers complex at a cost of $2.13 billion to produce 1.4 million tonnes of industrial chemicals and fertilisers annually, Ahram Online reported.

An industrial chemical formaldehyde project at a cost of $100 million to produce 70,000 tonnes annually will be on offer, as well as a new desalination unit in Amreya Oil Refinery Company which could produce 4.59 million tonnes of petroleum products annually at a cost of $250 million, the report said.

Egypt will also promote a glass sand processing plant with a production target of 250,000 tonnes annually at a cost of $35 million.




Tags: Egypt | petrochemical | Energy | Oil |

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