The Egyptian government has increased its target for refining and petrochemical projects by 30% to $5.2Billion.
The aim is to revamp and debottleneck existing refineries with new units for diesel and higher-value products, reducing import bill on diesel and Liquefied Petroleum gas (butane) from a crippling $6.2Billion in FY 2025/26, EnterpriseAM reports, quoting government sources.
Although Egypt holds one of the largest crude oil refining capacities in Africa, at around 700,000Barrels of Oil Per Day, many state-owned refineries historically operated below capacity due to technical bottlenecks and aging infrastructure.
The country’s Ministry of Oil anticipates $2.1Billion for plants that would convert fuel oil into diesel, gasoline, naphtha, and other products.
The Egyptian General Petroleum Corporation (EGPC) plans to set up a separate investment company with private investors to build them and has fielded preliminary approaches from Arab and international companies.
