Egyptian petroleum minister Tarek El-Molla announced in a statement the establishment of a new complex for high-octane gasoline production in the governorate of Assiut at a cost of $450 million, with a production capacity of around 800,000 tonnes of gasoline per annum.

The new complex, which has begun trial operations, is expected to help boosting the refining capacity, which will contribute to maximizing the added value of the economy and reducing the petroleum products’ import bill, the statement added.

Moreover, the ministry is planning to raise benefits of the petroleum zone in Assiut through setting up the new diesel complex affiliated to Assiut National Oil Processing Company (ANOPC), with up to $2.9 billion in investments, the minister said.

This project would be one of the main national projects in the meantime in terms of the advanced technologies in the refining sector and in turning the low-quality fuel oil (mazut) into high-quality petroleum products in accordance with the EURO 5 standards.

This came during El-Molla’s visit to Assiut to inspect the progress of developments at the Assiut Petroleum Geographical Zone, which includes the companies (Assiut Oil Refining Co, Petroleum Pipelines Co, Petrogas, Al Taawon Petroleum, Petroleum Arrows Company, ANOPC, and Nile Petroleum).

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