Egypt this week signed a contract for the construction of a mazut hydrocracking complex in Assiut, the largest oil refining project to be implemented in Upper Egypt, with investment totaling US$ 2.5 billion. The contract was signed in the presence of Petroleum and Mineral Resources Minister Tarek al-Mulla by Mohamed Badr Eddin, President of Assiut National Oil Processing Company (ANOPC), and representatives from Enppi and Italy’s Techint Engineering, according to a statement by the Petroleum Ministry on Friday.

The project hopes to maximize the utilization of state resources by taking advantage of the latest hydrocracking technology to refine mazut, a low-value product, and transform it into petroleum products of a higher value, mainly diesel with European specifications.

The complex in Assiut aims for a production capacity of 2.8 million tons annually, the statement added, and the facility will also produce butane and naphtha used in the production of high-octane gasoline.

The project aims to contribute to covering the needs of Upper Egypt in terms of petroleum products, which the project’s organizers say should reduce the volume of petroleum imports to the country.

The project is also expected to provide job opportunities in the Upper Egypt area, the statement said.

Egypt this week signed a contract for the construction of a mazut hydrocracking complex in Assiut, the largest oil refining project to be implemented in Upper Egypt, with investment totaling US$ 2.5 billion. The contract was signed in the presence of Petroleum and Mineral Resources Minister Tarek al-Mulla by Mohamed Badr Eddin, President of Assiut National Oil Processing Company (ANOPC), and representatives from Enppi and Italy’s Techint Engineering, according to a statement by the Petroleum Ministry on Friday.

The project hopes to maximize the utilization of state resources by taking advantage of the latest hydrocracking technology to refine mazut, a low-value product, and transform it into petroleum products of a higher value, mainly diesel with European specifications.

The complex in Assiut aims for a production capacity of 2.8 million tons annually, the statement added, and the facility will also produce butane and naphtha used in the production of high-octane gasoline.

The project aims to contribute to covering the needs of Upper Egypt in terms of petroleum products, which the project’s organizers say should reduce the volume of petroleum imports to the country.

The project is also expected to provide job opportunities in the Upper Egypt area, the statement said.