Current infrastructure projects investments for receiving, transfer, and trading of petroleum products in Egypt have hit EGP 8.8b, Tarek El Molla, Minister of Petroleum and Mineral Resources told Al Mal.

Already implemented project amount to EGP 937, while planned projects are worth EGP 4.2b in vestments. Pipeline laying projects are estimated amount to EGP 3.7b in investments.

On a related note, El Molla referred to the sharp decrease in oil prices as a significant aid in reducing energy subsidies in the state budget, noting a reduction of EGP 6.7b by the end of current fiscal year, in comparison to initial estimated cost.