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Tag: Qalaa Holdings

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, […]

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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 […]

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Qalaa

Qalaa, Edison postpone government negotiations to build €100 million Abu Qir power plant

Posted: June 20, 2017 at 8:04 pm   /   Electricity & Power

Qalaa Holdings and Italy’s Edison postponed negotiations with the Electricity Ministry to build a EUR 100 mn power plant in Abu Qir, until the ministry announces new electricity prices in July, Al Borsa reports. The plant, which is expected to produce 180 MW, is co-financed by both companies. Electricity from the project would be sold […]

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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 […]

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Qalaa’s ERC in talks with Aramco, KNPC, Shell over fuel imports

Posted: February 28, 2017 at 3:01 pm   /   Oil & Gas

Qalaa Holdings subsidiary Egyptian Refining Company (ERC) is in talks with Saudi Aramco, Kuwait National Petroleum Company (KNPC) and Shell to import an additional 1.2 mn tonnes of feedstock needed for its operations at USD 3.7 bn refinery in Mostorod, ERC’s Managing Director Mohamed Saad tells Youm7. (Source: Enterprise.press)

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Edison begins drilling three wells in Idku, Abu Qir, North West El Gindi by January

Posted: October 4, 2016 at 2:08 pm   /   Oil & Gas

Italian energy firm Edison will begin drilling three at its concessions in Idku, Abu Qir, and North West El Gindi, head of business development Tarek Shalaby told Al Borsa. He also added that Edison and Qalaa Holdings are currently in negotiations with the oil and electricity ministries to build a 180 MW power plant in […]

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Qalaa Holdings says new ERC refinery will cut government's import bill

Posted: May 26, 2016 at 1:51 pm   /   Oil & Gas

Egyptian investment firm Qalaa Holdings is confident its new refinery will cut the country’s dependence on crucial oil product imports, particularly as a weaker currency and rising crude prices force the government to reduce its energy bills. The $3.7 billion Egyptian Refining Co (ERC) will have the capacity to produce 4.2 million tonnes of refined […]

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Egyptian Refining Co to start output at country's largest refinery in Q1 2017

Posted: January 24, 2016 at 1:00 pm   /   Oil & Gas

The Egyptian Refining Company, a subsidiary of one of Egypt’s largest investment companies Qalaa Holdings, will start production at its $3.7 billion oil refinery in the first quarter of 2017, managing director Mohammed Saad said. The refinery, which has a capacity to produce 4.2 million tons of refined products annually, the largest in Egypt, will […]

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Edison signs joint development agreement with Qalaa to build a combined cycle power plant in Abu Qir

Posted: July 24, 2015 at 7:02 pm   /   Electricity & Power

On the occasion of Egypt National Day at Expo, Edison Chief Executive Officer, Bruno Lescoeur, and Qalaa Energy CEO, Mohamed Shoeib, signed a Joint Development Agreement to build an 180 MW power plant, which will bring more efficient and sustainable energy to the Egyptian customers. The agreement has been signed within the framework of the Italian-Egyptian […]

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