Construction is to commence on Egypt’s largest refinery. The North African country’s Government has signed an agreement with China’s Rongsheng Holding Group and
China National Chemical Engineering Co. Ltd, to build and operate a US$2 bln refinery. Under the terms of the contract, ownership of the facility will be transferred to Egypt 25 years after its start-up date. Capacities will include 30 million tpa of refined products including jet fuel and diesel for the domestic market and naphtha for export to China.