Egypt’s Minister of Petroleum and Mineral Resources Sharif Isma’il says the ministry is conducting feasibility studies for a number of refineries and petrochemicals plants to be built in a new economic zone near the newly expanded Suez Canal.

The downstream plants will be part of the ministry’s Suez Canal Axis Development plan, which the government plans to promote to international investors. The proposed Axis development area lies alongside existing industrial developments in the northwest of the Gulf of Suez area. (CONTINUED - 767 WORDS)