Economy Petroleum signed the contract for the largest petroleum refining...

Petroleum signed the contract for the largest petroleum refining project in Assiut, with investments of 2.5 billion dollars

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Engineer Tariq Al Mulla, Minister of Petroleum and Mineral Resources, witnessed in the presence of Giampaolo Cantini, Ambassador of the State of Italy, the signing of the contractor general contract for the construction of the hydrogen cracking complex for diesel in Assiut, which is the largest oil refining project to be implemented in Upper Egypt.

The contract was signed by Eng. Mohamed Badr El-Din, President of the Assiut National Petroleum Manufacturing Company (ANOPEC), which is affiliated with the project, and Marco Villa, President of the Italian Technip Company, Eng. Ashraf Bahaa, President of Enppi Company, Engineer Walid Lotfy, President of Petrojet Company, and the investment cost of the project is about 2.5 billion dollars.

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It is worth noting that this project will contribute to maximizing the utilization of state resources through the use of the latest technological means to refine petroleum using the hydrogen cracking technology of diesel as a low-value product and convert it into high-value petroleum products, mainly diesel with European specifications with a production capacity of 2.8 million tons per year in addition to the gas. And naphtha used in the production of high-octane gasoline, which will lead to covering the needs of Upper Egypt from petroleum products, which will have the greatest impact in reducing the volume of import of these products and contribute to providing foreign currency In addition, the project will open new horizons for development and create new job opportunities in the Upper Egypt region.

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