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State-owned Egyptian General Petroleum Corporation (EGPC) is progressing refinery upgrades expected to cost a total of $5.4bn, while planning for further new refineries and units with an estimated total cost of $11.8bn. The projects under way are mainly intended to increase upgrading capacity for lighter products at the company’s relatively unsophisticated refineries, while a proposed new refinery at Ain Sukhna and two expansion projects will boost Egypt’s total crude processing capacity.
In a recent presentation to the American Chamber of Commerce in Egypt, EGPC chairman Tariq al-Mulla provided an update on seven refinery projects under way and due to be completed in 2016-18. He also outlined five planned refinery upgrades and said a proposed new refinery at Ain Sukhna was now scheduled for development during 2018-20. An Egyptian-Kuwaiti venture had planned to build a refinery and petrochemicals plant at Ain Sukhna, but pulled out in 2009 when the government altered its tax terms.
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