Middle East Economic Survey

VOL. XLVIII

No 16

18-April-2005

EGYPT

EGPC Buys Central Banks 38% Stake In Midor Refinery

Egyptian General Petroleum Corporation (EGPC) has purchased the Central Bank of Egypts (CBE) 38% stake in the Middle East Oil Refinery (Midor) for $517mn, according to al-Alam al-Youm financial daily newspaper. It said the shares had been sold in two tranches during regular trading on the stock exchange. It also reported that 20% of the refinery in Alexandria, Alexandria Petroleum,...