CAIRO – 22 March 2021: New expansions that are currently carried out by Midor Refinery Company aim to increase the refinery's production capacity by 60 percent, according to Minister of Petroleum and Mineral Resources, Tarek el-Molla. Molla added that the expansions are planned to be completed and put on production in the first quarter of 2022, at an investment cost of about $ 2.3 billion. He added in a statement, Monday, that the Midor refinery is one of the distinguished refineries that have an important role in providing a large part of petroleum products to the local market, especially gasoline and diesel, and that the new expansions project represents a quantum leap in the refining system and will contribute to the sustainability of the stability of the petroleum products market. This came during Molla’s presiding over the work of the General Assembly of MIDOR refinery to approve business results for the year 2020, in the presence of Abed Ezz El Regal, CEO of the Petroleum Authority, Ashraf Qutb, Deputy Minister for Financial Affairs, and Ahmed Raafat, First Deputy of the Central Auditing Organization, through video conference. During the meeting, the minister directed the importance of adhering to the timetables for the implementation of the new expansions project and working to overcome any obstacles that may hinder the implementation stages and work to increase the percentage of the local component in the implementation of major petroleum projects.

Source: Egypt Today March 22, 2021 12:11 UTC