Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, had a meeting with a delegation of Japan Bank for International Cooperation (JBIC). The delegation was led by Executive Officer for Europe, the Middle East and Africa, Moriyuki Aida, accompanied by JBIC’s Chief Representative in MENA, Naoki Tamaki, according to Al Mal.

Aida said JBIC is currently considering participating in financing the planned petrochemical projects.

He pointed out that JBIC has already contributed in a number of successful projects including funding a part of Egyptian Refining Company’s project in Mostrood, which is one of the largest implemented projects in the oil and gas sector.

Meanwhile, El Molla pointed out the strong and deep Egyptian-Japanese relations, stressing on Egypt’s commitment in strengthening the oil relations between the two countries.

He also stated that the time is appropriate to increase the JBIC’s contribution to the petroleum projects, especially in refining and petrochemicals.