The Egyptian Ministry of Petroleum and Mineral Resources has recently unveiled new refining and petrochemical ventures totalling US$9bn, according to Arabian Business
The Ministry is actively working on initiating refining projects worth US$7.5bn, which includes the expansion of the Midor refinery in Alexandria, Egypt. The Midor refinery has already completed its first and second phases and has commenced experimental operations. Additionally, there is the diesel production complex project at Assiut's ANOPC.
Moreover, the Ministry has introduced other projects, such as the coking complex and diesel production by the Suez Petroleum Processing Company, the condensate distillation project at Nasr Petroleum Company in Suez, and the air distillation project at Assiut's oil refiner.
The Egyptian Ministry's efforts have been successful in commissioning eight new projects in the oil refining sector, with investments totalling US$5bn. This success is a result of a strategic initiative launched in 2016 to enhance the petroleum refining industry and boost production capacities in order to reduce imports.
As a result of this strategy's achievements, domestic production of petrochemical materials has more than doubled to exceed 4.3 million tons annually by the end of 2021/2022, compared to 2.1 million tons in 2015/2016. This significant increase in production is attributed to the expansions that were implemented in 2016 and 2017, involving a total investment of approximately US$4bn.