Global Arab Network | China invests USD 2 billion in building the largest refinery in Egypt

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China invests USD 2 billion in building the largest refinery in Egypt

Global Arab Network - - Gamal Ragay

Sunday, 30 May 2010 09:27

Egypt Minister of Petroleum, Sameh Fahmi said that Egypt and China signed a memorandum of understanding to establish the largest oil refinery in Egypt in Suez with a capacity of 15 million tons per year as a first stage.

It will increase the refining capacity by 41% with the addition of 15 million tons in the second phase with huge Chinese investments estimated at nearly USD 2 billion as a minimum limit for the first phase, the minister said.(SIS)

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