Cairo - Mubasher: Egyptian Refining Company (ERC) will begin production in the Mostorod refinery project by September 2018, according to the company’s chairman, Ahmed Heikal.
The chairman of Qalaa Holding Group added in a recent interview with Bloomberg that his company owns 19% of the $3.7 billion refinery project, and that it is set to be completed by next June.
By the end of next year, the facility will reach 98% of its production capacity, saving Egypt around $300 million per year by reducing dependency on imported fuel and petroleum products.
