Egypt’s state-run petroleum refinery MIDOR has signed two deals worth $1.4 billion with US-based engineering company UOP, the petroleum ministry announced in a statement released Thursday.
The investment is part of a wider plan by the ministry to raise the domestic production of refined oil to aid in the fuel shortage the country is suffering from.
The project involves raising the capacity of the refinery from 1000,000 b/d to 160,000 b/d. By the project completion, MIDOR’s annual production capacity will reach 245,000 tons of Liquefied Petroleum Gas (LPG), 2.3 million tons of Diesel and 1.3 million tons of high octane fuel.
Source: Ahram Online.