Vol. XL

No. 2

13-January-1997

EGYPT

Egyptian Public Sector Acquires ControllingInterest In Midor Refinery

The Egyptian public sector has quadrupled itscapital share in the projected $1.2bn, 5mn ton/year Middle East Oil Refinery (Midor) in astructural change that has also doubled the company's capital from $180mn to $360mn.Originally the company's capital was owned 40% by an Egyptian private sector consortiumcomprising businessman Husain Salem and local banks, 40% by Israel's Merhav group and 20%by...