By Anita Fatunji
(Ecofin Agency) - The Egyptian Refining Company (ERC) has announced plans to conclude its refining project in Mostorod within the Q1 of 2017, as part of moves to address the supply gaps in the petroleum derivatives market.
According to the company’s Managing Director, Mohamed Saad, 90% of the project has been executed and the overall investments in the project have reached $3.7b, with the completion of all necessary procurement of materials and services. He added that the Egyptian General Petroleum Corporation (EGPC) owns 24% of the venture.
