"Oil": $ 1.850 billion investment "Assiut National"

The ANUPC approved the appointment of the first board of directors of the new company to implement and manage the hydrocracking project of the Asyut oil refinery at a cost of Investment of $ 1.850 billion. Mulla, Minister of Petroleum and Mineral Resources, said Tuesday that the project is a qualitative leap in the field of refining and oil manufacturing, which uses the latest advanced technologies in this field and is one of the projects the most important integrated program to develop and improve the efficiency of refineries. (NCCI), through the implementation of new refining and manufacturing projects to take advantage of low-value petroleum products, to maximize the productivity of high-value economic distillates such as diesel, gas and naphtha. The project supplies about 2.5 million tonnes of diesel per year to produce about 1.6 million tonnes of low sulfur diesel according to EU 5 specifications, producing around 402,000 tonnes of naphtha and 101 000 tons of butane. [1"TheprojectwillprovidealargepartofthesupplyandneedsoftheoilandgascommoditygovernoratesintheEUwhilereducingtherisksoftransportingtheseproductsfromtheNorthtotheSouth"InaccordancewiththeEgyptianEnvironmentalCode