The Egyptian Refining Company (ERC) joint venture is on schedule to start production at its $3.7bn hydrocracker-based project at Musturud near Cairo in the first quarter of 2017, according to Managing Director Muhammad Sa’d.

“We have so far completed 80% of the construction work and we will complete the rest in November and then start trial operations before we start production in the first quarter of 2017,” Mr Sa’d told reporters last week.

The ERC plant was...