Egypt targets to implement new projects to develop and raise the efficiency of the national network of pipelines for transporting petroleum products, Minister of Petroleum and Mineral Resources, Tarek El Molla said.
The minister’s remarks came during the general assembly meetings of the Petroleum Pipelines Company (PPC), Petroleum Gas Company (Petrogas), and the Egyptian Petrochemicals Company which were held via video conference to approve their planned budgets for fiscal year (FY) 2021/22.
During the meetings, El Molla referred to the implementation of pipelines, tanks and storage units in El Hamra expansion in the Western region as a necessary step that contributes to Egypt’s transformation into a regional hub for oil and gas trading. He also confirmed that the ongoing SCADA project will follow a time schedule, and will allow automatic control of the pipeline network.
Additionally, El Molla affirmed during Petrogas’ meeting the necessity of implementing a program to raise the efficiency of Katameya’s warehouses. Furthermore, he affirmed during the Egyptian Petrochemicals Company’s meeting the necessity to continue the petrochemical industry development in order to cope with the industry’s changes and increase petrochemicals production to meet the local market needs.
During the meetings, the companies presented features of their planned budgets for FY 2021/22, which were presented by Mohamed Bakhit, the Chairman of PPC, Raafat Abdel Hady, the Chairman of Petrogas, and Mohamed Abdel Aziz, the Chairman of the Egyptian Petrochemicals Company.