Middle East Economic Survey

VOL. L

No 36

10-September-2007

EGYPT

Egypts Citadel Capital Awards EPC Contract For New Refinery

The Egypt-based private equity firm Citadel Capital announced on 29 August that it had awarded a $1.9bn engineering, procurement and construction (EPC) contract to Japans Mitsui and South Koreas GS Engineering for the new hydrocracking facilities near the existing 140,000 b/d Musturud refinery outside Cairo. It is among the largest EPCs ever signed in Egypt, according to...