The report, published by the Egyptian Ministry of Planning and Economic Development, outlines the goals and investments of the oil and minerals sector in the plan for the current financial year 2022-2023.
The report released by the Ministry of Planning and Economic Development discussed the projects identified by the sector in the 2022-2023 plan, the establishment of the first certified gold refinery in Marsa Alam within the Red Sea province, including the replacement and reconstruction of about 15 strategic tank farms throughout the country, the creation of a network of pipelines Stationary fuel to the east of the channel with a total length of 263.5 km.
The report indicated that investments amounted to £49.5 billion for the development of the oil and minerals sector during the year of the plan, of which £17.6 billion for oil refining activities and £31.9 billion for upstream activities, or 3.5% of the planned. general investment.
Hala Al-Saeed, Minister of Planning and Economic Development, said the plan aims to achieve optimal economic utilization of natural resources through intensified mining and petrochemical projects, improving and developing the efficiency of existing refineries, and modernizing production units and work systems. in them.
She added: “This is in addition to expanding the activities of delivering natural gas to homes and factories, adding that, in line with the sustainable development strategy, the vision for the development of the oil sector is to provide the country’s needs for petroleum materials to go to keep up with the times. with the requirements of sustainable development, maximize the contribution of the oil sector to national income and turn Egypt into a strategic center for energy trading.
Source: Egyptian site “Echo of the Country”.