The Cairo Oil Refining Company (CORC), Egypt’s largest refining entity, plans to invest EGP 679 million in local manufacturing projects during the 2026/27 fiscal year (FY). CORC Chairman Tarek Abdel Latif announced the target during a general assembly meeting held to approve the company’s investment budget.

During the meeting, Chaired by  Minister of Petroleum and Mineral Resources Karim Badawi via video conference, Abdel Latif highlighted CORC’s role in deepening the local industry through its specialized manufacturing workshops. These facilities, equipped with modern machinery, serve as a critical pillar for the national refining sector by providing essential equipment and technical services to sister companies.

A key highlight of the company’s current portfolio is the boiler development project at the Alexandria Petroleum Company (APC). Abdel Latif added that the first phases are nearing trial operation (commissioning) within the next few days.

The company has also prioritized energy conservation, achieving total savings of 258 Megawatt-hours (MWh). These results were driven by expanding solar energy use across administrative buildings and replacing traditional lighting with energy-efficient systems.

During the meeting, Badawi emphasized the need to monitor the quality of petroleum products from refining and manufacturing processes, as these directly affect consumers. He also highlighted the importance of marketing the company’s premium products abroad to maximize their value and boost financial returns.

Badawi directed the company to finalize a five-year strategic plan focused on increasing production rates and improving operational efficiency. He emphasized that these efforts must keep pace with rising domestic consumption while maintaining strict quality standards for products that directly impact consumers.

Established in 1982, CORC accounts for approximately 25% of the nation’s total refining capacity. The company operates two major refineries in Mostorod and Tanta, processing nearly 8 million tons of crude oil annually to supply the Greater Cairo and Nile Delta regions with essential products, including gasoline, diesel, and jet fuel.