Qalaa’s ERC to commence trial operations by end of 2017; full capacity to be reached by May 2018
Chairman of Qalaa holding [CCAP.CA], Ahmed Heikal, has stated that trial operations at the Egyptian Refining Company's (ERC) oil refining facilities are expected to commence the end of 2017. Heikal added that the refinery is expected to reach full operating capacity by May 2018. It is worth noting that the project has an investment cost of USD3.7bn, of which USD2.8bn have already been paid. (Company release)
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