Qalaa Holdings’ revenues are expected to exceed EGP 90 billion in 2020, the company’s Chairman, Ahmed Heikal, told Reuters.
The company will gain between EGP 50-55 billion from the Egyptian Refining Company (ERC), which is set to start operating in Q3 2019, Heikal noted.
ERC’s annual output is estimated to be 2.4 million tons of diesel, Heikal said.
ERC had supplied 100,000 tons of low-sulfur petroleum products from its operational trials, Qalaa Holdings Company previously announced, according to Amwal Al Ghad.
The operational trials of the catalytic reforming unit (CCR) and the vacuum distillation unit (VDU) in ERC have been a success and the company began delivering petroleum products such as diesel; naphtha, and high-octane gasoline that met global standards.