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.
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 has announced the establishment of a new joint venture between its subsidiary TAQA Arabia and BP subsidiary Castrol with EGP 20 million capital.
Operations at the Egyptian Refining Company’s (ERC) new refinery will begin next September.