The Minister of Petroleum and Mineral Resources, Tarek El Molla, witnessed the signing of a contract amending the trading categories of diesel and butane at Sonker’s bulk terminal, according to a press release.
The amended contract was signed by Abed Ezz El Regal, the Egyptian General Petroleum Corporation (EGPC) Chairman, and Osama El Sherif, Sonker’s Managing Director, in the presence of representatives from the Administrative Control Authority.
Under the amended contract, the facilities will be able to receive and store diesel and butane, as well as receiving giant carriers in the pier at Ain El Sokhna port.
Amending the contract mainly targets achieving balance in the contract’s terms under the framework of the ministry’s infrastructure reinforcement policy and its ideal exploitation to contribute to meeting part of the country’s needs of diesel and butane. Moreover, this project comes in line with the ministry’s strategy of turning Egypt into a regional hub.
It is worth noting that the first phase of operating the facilities of receiving and pumping diesel into the national grid was completed in September. Additionally, Petrojet is responsible for completing the project by next May, with investments of around $500 million.