Qalaa Holdings Explains Reduced Stake in ERC
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.
Qalaa Holdings | Egypt Oil & Gas - Part 2
Qalaa Holdings Receives $120 M for ERC
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.
Qalaa Holdings’ Revenues Grow by 25%
The company's operating profit grew by 36% to reach EGP 1.3 billion in 2018, which is supported by the strong performance of all the affiliated companies.
Qalaa Holdings’ Revenues to Exceed EGP 90 B in 2020
The company will gain between EGP 50-55 billion from the Egyptian Refining Company (ERC), which is set to start operating in Q3 2019.
ERC Supplies 100,000 Tons of Petroleum Products
The Egyptian Refining Company (ERC) has supplied 100,000 tons of low-sulfur petroleum products from its operational trials.
ERC Commercial Operations to Start in Q3 2019
ERC is 99.28% complete, and the diesel producing unit has been successfully tested.
ERC Seeks $80 M Loan from CIB
CIB is arranging the $80 million loan for ERC to fund the general capital.
TAQA Arabia and Castrol Establish New Joint Venture
Qalaa Holdings has announced the establishment of a new joint venture between its subsidiary TAQA Arabia and BP subsidiary Castrol with EGP 20 million capital.
ERC’s $3.7B Refinery to Come Online Next September
Operations at the Egyptian Refining Company’s (ERC) new refinery will begin next September.
