The Minister of Petroleum and Mineral resources, Tarek El Molla, has checked through a visit the trial operation of the new complex project for producing high value petroleum products owned by the Egyptian Refiner ...
The Ministry of Petroleum invests one trillion Egyptian pounds in the Oil and Gas production projects and EGP 460 billion in petrochemicals and refining projects.
Arabian Cement Company (ACC) signed a Petroleum Coke (pet coke) deal with Egyptian Refining Co (ERC), which states that ERC should supply 300,000 tons of pet coke per year to ACC.
Qalaa Holdings has confirmed in a market statement that its stake in the Egyptian Refining Company (ERC) has decreased to 13.14% because other shareholders have underwritten additional equity.
The final tranche was requested by ERC's project finance lenders and is divided into $70 million for capital increase and $50 million for shareholders' loan.
The company will gain between EGP 50-55 billion from the Egyptian Refining Company (ERC), which is set to start operating in Q3 2019.
The Egyptian Refining Company (ERC) has supplied 100,000 tons of low-sulfur petroleum products from its operational trials.
ERC is 99.28% complete, and the diesel producing unit has been successfully tested.
CIB is arranging the $80 million loan for ERC to fund the general capital.
Qalaa Holdings Company presented its $4.3 billion Egyptian Refining Company (ERC) at the African Investment Forum as a case study for boosting the attractiveness of private investment using policy reform.
