By: Ahmed Allam
Cairo – Mubasher: Egyptian Refining Company (ERC), a subsidiary of Citadel Capital, is looking to complete the mechanical works at its oil-refining project in Mostorod by the end of June 2018.
Speaking on the sidelines of opening ERC’s plant in Mostorod on Monday, managing director Mohamed Saad revealed that trial operations would continue for another three to four months.
He forecast that actual production would begin towards the end of 2018 or in early 2019.
The project would produce around 4.7 million tonnes of petroleum products per annum, Saad revealed, indicating that this output would reduce Egypt’s deficit of petroleum products by 30% to 50%.
The Mostorod project would also provide around 50% of Egypt’s imports of petroleum products.
ERC will provide around 3.5 tonnes of Mazut, a type of low-quality fuel, and will import around 1.3 million to 2 million tonnes, Saad added.
Citadel Capital chairman Ahmed Heikal, said his company, which owns a portion of ERC, had previously said that ERC would begin producing oil derivatives from the Mostorod plant by September 2018.
Translated by: Nada Adel Sobhi
