Alexandria Petroleum Company (APC) raised the refining of crude oil quantities by an additional 10% in Fiscal Year (FY) 2018/19 than that of the previous year, reaching 4.8 million tons. This increase contributed to saving oil products valued at EGP 55 billion that met the needs of the domestic market, as suggested by a press release by the Ministry of Petroleum and Mineral Resources.
The statements came during a meeting between the APC Head, Medhat Bahgat, and Minister of Petroleum and Mineral Resources, Tarek El Molla, with the attendance of Minister of Local Development, Mahmoud Shaarawy.
The APC has fed the national project of roads with around 593,000 tons of asphalt, the company also invested EGP 290 million dedicated to projects related to maintenance and renovation, as well as developing safety systems in the petroleum geographic zone in Alexandria.
Chairing the meeting with the APC, El Molla underlined the importance of maximizing benefits from the country’s assets and room for promising potential that the APC attains. El Molla, meanwhile, emphasized the development of grids and expanding the APC’s projects.