Tarek El Molla, Minister of Petroleum and Mineral Resources, reviewed the $2.3 billion Midor refinery expansion in Alexandria which aims to increase its current refining capacity by 60%.
The project is a part of the petroleum ministry’s refining plan to reach self-sufficiency of gasoline and diesel by 2023. Therefore, some plans have been outlined in order to expedite the implementation of these projects in a bid to compensate the delay in delivering tools and equipment due to COVID 19 global pandemic.
The ministry has other ongoing refining projects including Alexandria National Refine and Petrochemical Company’s Gasoline Production Unit (ANRPC), the Gasoline and Diesel Production Complex in Mostorod, and Assiut National Oil Processing Company’s (ANOPC) Hydrocracking Complex.
In addition, the ministry has previously completed High-Octane Gasoline Complex of Assiut Oil Refining Company (ASORC) and began its trial operations at the end of 2020.
According to the petroleum minister, the ministry’s strategy aims to increase the production of petroleum products regionally, reduce the import bill, and meet the needs of the local market. He added that the ministry’s strategy strives to maximize economic benefits from Egypt’s fortune and to turn Egypt into a regional energy hub.