Egyptian Refining Company on track to start full commercial operations in Q3

Company supplies 230,000 tonnes of petroleum products to state-owned Egyptian General Petroleum Corporation

  
Image used for illustrative purpose. engineering man with white safety helmet standing in front of oil refinery building structure in heavy petrochemical industry

Image used for illustrative purpose. engineering man with white safety helmet standing in front of oil refinery building structure in heavy petrochemical industry

Getty Images/ Witthaya Prasongsin

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)

(anoop.menon@refinitiv.com)

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