Newsletter subscribe
Tag: ERC
Qalaa

Qalaa Chairman presents Landmark ERC Case Study at Africa Investment Forum

Posted: November 13, 2018 at 4:35 pm   /   Oil & Gas

Qalaa Holdings Chairman Ahmed Heikal Presents Landmark ERC Case Study at Africa Investment Forum in Johannesburg, South Africa. Qalaa Holdings Chairman and Founder Ahmed Heikal showcases US$ 4.3 bn greenfield refinery as a successful example of a private sector-led infrastructure mega-project that will provide a domestic substitute for c. 40% of Egypt’s diesel imports. Ahmed […]

No Comments read more
ERC

Qalaa looks to increase its stake in Egyptian Refining Company ERC

Posted: September 5, 2018 at 12:27 pm   /   Oil & Gas

Qalaa Holdings is in talks to increase its stake in the Egyptian Refining Company (ERC) through a capital increase, Managing Director Hisham El Khazindar said yesterday. The refinery is now 98% complete and is expected to be a major driver of revenue expansion starting next year. El Khazindar told Al Mal that trial operations at […]

No Comments read more
ERC

Qalaa’s ERC refinery fires up boilers after connecting gas, power

Posted: June 17, 2018 at 3:02 pm   /   Oil & Gas

ERC begins running boilers after connecting refinery with power and gas: Qalaa Holdings’ Egyptian Refining Company (ERC) has begun running the USD 4.3 billion Mostorod refinery’s boilers, Qalaa said in a regulatory filing on Wednesday. The trial runs took place as the refinery was hooked up to electricity and gas, the statement added. The move comes […]

No Comments read more
Qalaa ERC Construction

Qalaa Holdings eyes increasing stake in Egyptian Refining Company

Posted: May 9, 2018 at 12:30 pm   /   Oil & Gas

Qalaa eying additional stake in Egyptian Refining Company: Qalaa Holdings announced yesterday that it is looking to increase its ownership of its greenfield Egyptian Refining Company (ERC) by acquiring or subscribing to additional shares in its subsidiary Orient Investment Properties, Qalaa said in a regulatory filing. ERC recently completed a project finance restructuring that saw […]

No Comments read more

Qalaa's Chairman: Egypt is ready to be regional energy hub

Posted: April 25, 2018 at 2:24 pm   /   Oil & Gas

With gas production in full swing across a number of sites in Egypt, the country is ready to become a key exporter of energy in the region and beyond, the chairman and founder of investment firm Qalaa Holdings told CNBC. “In the oil and gas sectors Egypt remains a very important player,” Ahmed Heikal, told […]

1 Comment read more

Qalaa Holdings' ERC expects to recover cost of delayed launch in six years

Posted: March 6, 2018 at 11:57 am   /   Oil & Gas

Qalaa Holdings’ Egyptian Refining Company (ERC) expects to recover the cost of its delayed launch in six-years’ time, Managing Director Mohamed Saad told the press yesterday, Reuters reports. The company is on track to begin trial operations at the Mostorod facility in 3Q2018 and launch operations by the end of 2018 or early next year, […]

No Comments read more

Qalaa’s ERC completes financial restructure & signs joint-venture with GS, Mitsui

Posted: February 23, 2018 at 3:32 pm   /   Oil & Gas

Qalaa’s Egyptian Refining Company completes financial restructuring as it drives to completion. Qalaa Holdings subsidiary Egyptian Refining Company (ERC) has reportedly completed a project finance restructuring that has seen the company take on new loans and equity commitments valued at around USD 500 mn, according to a press release from law firm Freshfields Bruckhaus Deringer, […]

No Comments read more

Egyptian Refining Company $3.7 billion plant will start up in September 2018

Posted: November 12, 2017 at 8:55 pm   /   Oil & Gas

• Plant will pare country’s need for imported fuel: Chairman. • Refinery is part of plan to raise local processing capacity. Egyptian Refining Co.’s new $3.7 billion processing plant will begin operations in September and save the government some $300 million a year by reducing the country’s reliance on imported fuel, its chairman said. Ahmed […]

No Comments read more
ERC

ERC Refinery to begin production in 2018

Posted: May 21, 2017 at 1:09 pm   /   Oil & Gas

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 […]

No Comments read more

ERC Refinery faces delays, production to start in Q2 2018

Posted: March 2, 2017 at 2:58 pm   /   Oil & Gas

Production from Qalaa Holdings subsidiary Egyptian Refining Company (ERC)’s refinery in Mostorod will be postponed to Q2 2018 following construction delays, Al Mal reported. The refinery was initially set to begin production by the end of 2017 and ERC Managing Director Mohamed Saad said the project is 93% ready. ERC has already begun talks with […]

No Comments read more