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$1bln to Increase Capacity of Midor Refinery

Source: Al Ahram 8/10/2014, Location: Africa

Engineer Sherif Ismail, Minister of Petroleum and Mineral Resources, laid the foundation stone for the Midor expansions to increase operational capacity of the plant from 100 to 160 thousand barrels per day, a growth rate of 60%, which leads to maximize the production of distillates, especially Central and diesel fuel through the maximum benefit .

From units and the possibilities of the current lab and keep pace with international standards and future access to high quality products, as well as Satisfy the needs of the domestic market of petroleum products.

The total investment cost estimated for the expansions around one billion dollars.

Also , Minister of Petroleum and Tariq Al-Mulla, chief executive of the Petroleum Corporation signed a contract feasibility studies and technical Midor between the company and UOP Global Entrepreneur licenses for many of the units lab.

Dr. Mohamed Abdel Aziz , the Chairman & CEO of Midor clarified that the study show a high economic feasibility of these expansions, where will be transferred Midor from the third generation to the fourth generation in terms of technological techniques, pointing out that he planned to start in business expansions during this year and the completion of the implementation by the end of 2017.

He Confirmed continuation of regular operation of all units of the plant during the implementation processes, pointing out that the total expected quantities of the annual products after these expansions will rise to about 240 thousand tons of butane gas and 3.1 million tons of gasoline, high-octane and 2.1 million tons of jet fuel, high-quality and about 4 million tons of diesel fuel.

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Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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