50% of Engineering Designs for Egypt-QPI New Oil Refinery Project Completed

Doha, September 24 (QNA) - Chairman of the Egyptian Refining Company Abdul-Fattah Abu Zaid announced that about 50% of the engineering designs for the new oil refinery project in Egypt, in which Qatar Petroleum International (QPI) will invest over QR13 billion, has been completed, anticipated that the major project would start operation in 2016 as planned. In remarks to Qatar News Agency (QNA), Abu Zaid praised the partnership between QPI and Orient Company and the Egyptian General Petroleum Corporation (EGPC) through the Egyptian Refining Company. Last Saturday, HE Qatar's Minister of Energy and Industry Dr. Mohammad bin Saleh Al Sada announced that QPI has entered into partnership to build the new oil refinery in Egypt, and expressed pleasure to support the project which would further enhance QPI's strategy to develop and update the three pillars upon which the company is based, namely exploration, developing and producing oil, petrochemicals, refining and gas and energy amid the company's vision. Abu Zaid noted that the production capacity of the project is 2.4 million tons per year of LPG, gasoline, and diesel and refined high quality and environmentally friendly products, which would contribute to meet the domestic demand and greatly reduces the import bill. He said that the benefits of this giant project is the use of fuel oil, where diesel is processed to light products, mainly diesel, which made it a national project produces 2.3 million tons of diesel fuel, half the amount imported by Egypt. (QNA)