Qalaa Holdings Company
Sunday, 3rd November 2019
Egypt’s Qalaa Holdings’ Chairman, Ahmed Heikal, announced that the company has implemented investments in the Egyptian Refining Company's (ERC) project totaling $4.7 billion.
Sunday, 20th October 2019
Egypt’s Qalaa Holdings’ Chairman, Ahmed Heikal, announced that the company will operate 100% of its refinery units in the Egyptian Refining Co (ERC) in January, noting that the production capacity will be increased to 5.5 million ton per annum (mtpa) in 2021 from 402 mtpa.
Thursday, 30th May 2019
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.
Wednesday, 3rd January 2018
Qalaa Holding announced 38% year-over-year (Y.o.Y) growth in revenue during the third quarter of 2017, reaching EGP 2.47 billion, and a 182% Y.o.Y increase in earnings before interest, taxes, depreciation, and amortization (EBEDITA) to reach EGP 253.6 million.
Tuesday, 16th May 2017The oil refinery aims to decrease diesel import needs by 50% and to decrease Sulphur emissions by one third.