11 Nov 2019; MEMO: Qatar Petroleum (QP) yesterday announced the launch of the Egyptian Refining Company (ERC)’s in the Mostorod refinery plant located in the north of the Egyptian capital city of Cairo.
“QP is pleased to announce a successful launch of the ERC’s refinery project in Mostorod,” the company told Russia’s Sputnik. QP owns 38.1 per cent of the Arab Refining Company, which in turn owns 66.6 per cent of the ERC.
The company said the units were “successful operating”, adding that it was expected to reach its full production capacity “before the end of the first quarter of 2020.”
“The project is expected to reduce Egypt’s dependence on imported petroleum products,” QP pointed out. It is also planned “to create job opportunities for the local workforce and to boost the services sector in Egypt.”
The project marks QP’s largest investment in an Arab country and in Africa.
Since 5 June 2017, Egypt, along with Saudi Arabia, the United Arab Emirates and Bahrain, has been imposing a blockade on Qatar accusing it of supporting terrorism. Doha denies the allegations saying the boycotting countries are actually working to force a change in government in Qatar.
