Qalaa Holdings mulls boosting ERC’s capacity: Egypt

Reuters Images/Mohamed Abd El Ghany

Qalaa Holdings’ Chairman Ahmed Heikal told Asharq Business on March 21st

Staff Writer, Arab Finance

March 22, 2023

PHOTO

Qalaa Holdings is considering expanding the capacity of Egyptian Refining Company (ERC) to 800,000 tons, which is expected to take place within three years upon the board’s approval, Qalaa Holdings’ Chairman Ahmed Heikal told Asharq Business on March 21st.

He added that the group had reached a final debt rescheduling with the Egyptian General Petroleum Corporation (EGPC).

Regarding the business of Dina Farms, Heikal noted that the group is planning to invest $30 million to boost livestock production, as well as is scaling up its portfolio of agricultural plots to grow corn and soybeans in order to control imports and meet local market demands.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.