The Ministry of Petroleum and Mineral Resources announced in a press release the projects that will be presented in the Economic Summit taking place in Sharm el-Sheik on the 13th of March.

First: Projects that will be displayed with the knowledge of investment banks with a total investment of about $5 billion, as follows:

Refining projects worth $3.2 billion for petroleum products, butane, diesel, gasoline, and diesel fuel, meant to increase the value added for these products.

The construction of a complex for oil storage in Suez and a  hydro cracking complex for the Asyut Petroleum Refining company.

Petrochemical projects worth $361 million including biofuels to be made from rice straw and biofuels to be made from molasses.

Projects worth $236 million for crude and petrochemical products to supply factories with the required supply of butane, etc. Production projects for phosphate fertilizers and phosphoric acid.

Second: Projects will be displayed with the knowledge of the petroleum sector amounting to a total investment of about $5 billion, as follows:

Construction of a new distillation unit for the Ameria Oil Refining company, meant to upgrade production with an overall investment of $250 million.

Petrochemical projects such as a $100 million project to produce formaldehyde and its derivatives and a $2.5 million project for the production of propylene and its derivatives, in addition to fertiliser projects, and a Mineral Resources project to set up a glass factory,or series of glass factories, in the Qina valley and in Sinai with an investment budget of about $35 million.

Source: Egypt Oil and Gas