Egypt plans to develop six refineries at a cost of $9 billion over the upcoming four years, according to Minister of Petroleum Tarek El-Molla, Reuters reported.

El-Molla pointed out that the aim of refineries development is to increase the domestic production capacity to 41 million tons annually.

Egypt has eight refineries with a production capacity of 38 million tons per year.

The minister, who was speaking on the sidelines of a conference held on January 20, did not provide any details about the development funds.