CAIRO, August 02, SPA - Egypt's state-owned oil company - along with other unnamed investors -will spend $9 billion over five years to build an oil refinery complex in the north of Egypt, the country's petroleum minister recently told Reuters.
The refinery will have a capacity of 350,000 barrels per day (bpd) and should begin operations by 2010, said Minister Sameh Fahmy. It will be located either in the city of Port Said or the town of Gamassa.
The minister declined to reveal the identity of investors that would join the state-run Egyptian General Petroleum Corporation (EGPC) in the project.
© Saudi Press Agency 2008
