ERC Refinery to begin production in 2018
The Egyptian Minister of Petroleum and Mineral Resources Eng. Tarek El Molla said that the Egyptian Refining Company’s (ERC) project is expected to be begin operating by the end of 2017. The minister added on the sidelines of his visit to the Cairo oil refinery on Saturday that actual production is expected in 2018.
The minister noted that the project represents one of the most important partnerships with the private sector, noting that it will have positive implications on the Egyptian economy in terms of saving foreign exchange and replacing imports by the local products, as well as contributing to Egypt’s vision of becoming a leading global energy center.
The chairman of Citadel Capital, Ahmed Heikal, said that progress in the project reached 94%, adding that the project will be fed by Cairo Oil Refining Company with an annual capacity of 4.3 million tonnes.