Prime Minister (PM) Mostafa Madbouly inspected the $450 million Sonker liquid bulk terminal, located in the third basin of Ain Sokhna Port, according to a statement.
According to Madbouly, the project aims to secure the local market’s needs, adding that the Ain Sokhna port is one of the most important ports on the Red Sea coast for circulating petroleum products. For his part, Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the project reflects the successful cooperation among the petroleum sector, Ministry of Finance, the Suez Canal Economic Zone (SCZone) and the private sector, namely Amiral Group.
The first phase of the project aims to provide a strategic stock for the state by storing and trading diesel and butane. The project includes the construction of three ultra-cooled storages, with a total capacity of 150,000 cubic meters to store liquefied petroleum gases (LPG). It also includes the construction of three storages with a total capacity of 100,000 cubic meters to store diesel, as well as constructing two pumping stations for diesel and butane.