16 June 2019
Egyptian Refining Company (ERC) is on track to start full commercial operations in the third quarter, the company's managing director has said.
Developed by Qalaa Holdings, the $4.4 billion refinery, located in Mostorod, Greater Cairo, is designed to produce 4.7 million tonnes of refined products per year, according to Qalaa Holdings' website.
"ERC had started trial operations earlier this year for eight units and the ninth unit would start operations in July," said Mohamed Saad in an interview with Thomson Reuters Projects.
He said ERC has supplied, to date, 230,000 tonnes of petroleum products to the state-owned Egyptian General Petroleum Corporation (EGPC), which owns a 23.8 percent stake in ERC.
"The eight units had supplied 230,000 tonnes of low sulphur European spec diesel, naphtha, and high-octane gasoline to EGPC," he said on the sidelines of a press conference last week.
ERC has a 25-year offtake agreement with EGPC for its liquid products.
Last month, Qalaa Holdings said in a press statement that it had completed a $120 million final funding round for ERC.
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
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