Middle East Economic Survey
Egypt Signs Refinery Expansion Agreement With Chinese Firms
Egypts government signed an agreement last week with two Chinese companies Rongsheng Holding Group and China National Chemical Engineering to build and operate a $2bn refinery, the Ministry of Petroleum said. The 30mn tons/year (600,000 b/d) plant will be Egypts largest refinery. Ownership will transfer to the Egyptian government 25 years after start-up. The plant will...