(MENAFN- Daily News Egypt) The Egyptian Refining Company (ERC), a subsidiary of Qalaa Holding Group for Investments, said that it is seeking to develop a study to increase its diesel production capacity in the medium term.
Mohamed Saad, Chairman of ERC, told Daily News Egypt that the study will target“removing bottlenecks” or increasing expansions. He noted that ERC is not currently facing diesel crises, and has not reduced its production.
ERC's production of diesel is estimated at 2.3 million tonnes annually. It produces 4.7 million tonnes of petroleum derivatives as a whole annually, using low-value mazut as an input.
ERC's refinery is the most advanced in Egypt. The project was developed at an investment cost of $4.4 billion. Alongside diesel, the company produces 600,000 tonnes of jet fuel.
The ERC project saved $300 million annually for the General Petroleum Corporation by avoiding the costs of transporting and securing imported petroleum materials.
Earlier, Qalaa Holdings, the owner of ERC, revealed that it is considering further expansion in ERC's production by 800,000 more tonnes. The new expansion will be completed within three years after the approval of the Board of Directors.
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