Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla has revealed that his country is intensifying efforts to increase reliance on local components in the development of oil refineries.
Petrojet company manufactures some of the main components that are installed in the production units in refineries such as salt separators, he added.
El-Molla stressed the significance of refineries in the country, specifically Alexandria which represents around 40 percent of the oil refineries across the country.
He made his remarks as he chaired through videoconference a meeting for several state-owned oil companies such as Alexandria Petroleum Company, Amreya Petroleum Refining Company, Egyptian Petrochemical Company, and Petroleum Pipelines Co.
Minister of Local Development Hisham Amna and the Minister of Trade and Industry, Ahmed Samir, were also present.
El-Molla remarked that investments continue to be pumped to develop the national petroleum transportation network, which boosts Egypt’s role as a regional hub for energy trade. This role must go in parallel with a modern, safe, and strong network of high efficiency to transport oil products, he said.
Chairman of the Board of Directors of Petroleum Pipelines Co. Fathi Mansour stated that the firm started the implementation of new transportation lines to transport oil and the expansion of two storage terminals with an investment value exceeding EGP6 billion.
Mansour added that new lines would extend over 600 km with an investment value surpassing EGP11 billion.