Prime Minister Moustafa Madbouli chaired on Thursday 9/2/2023 a meeting to follow up on the situation of the Refinery and Petrochemicals Complex project in the New Alamein City.

The project will be carried out with direct foreign investment.

Welcoming the delegation of the consortium responsible for implementing it, Madbouli underscored his complete support for the project.

He said “I asserted to the petroleum minister that this project will be a top priority among all projects that will be implemented in the phase to come.”

During the meeting, the delegation members said that investments in the complex are estimated to hit nearly $7 billion.

The project aims to make the maxim benefit from the surplus of crude oil in Western Desert fields by making a myriad of petrochemical products, according to them.

They added the project will help the region become an important regional hub for petrochemical industry.

The complex is one of the ventures that aim to maximize the added value of the natural resources available in Egypt.

Source: State Information Service Egypt