Middle East Economic Survey

VOL. LIV

No 49

5-Dec-2011

EGYPT

Musturud Refinery Project Financing Faces Delays, Targets 1Q12 Financial Close

The completion of the financing for Egyptian Refining Companys (ERCs) $3.7bn Musturud refinery project has seen further delays and is now targeted for the first quarter of next year, MEES understands. The refinery, which will process around 5mn tons/year of heavy fuel oil to produce 4mn t/y of products, including 2.3mn t/y of Euro V diesel, has been very...