The Ministry of Planning, Monitoring and Administrative Reform is investing $8.3 billion in the petroleum sector in order to boost the capacity of refineries by 10%, Egypt Oil & Gas reports.
The increased capacity will allow refineries to boost their annual production to 41 million tons.
The ministry also said that Egypt aims to further diversify its energy sources. By fiscal year (FY) 2020/21, 44% of the country’s power usage will come from natural gas, 39% from petroleum products 9% from coal and 8% from renewable sources.
The ministry also aims to connect another 3 million homes to the natural gas grid by FY 2020/21.