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Oil ministry mulls building Egyptian oil refinery in Ghana

Oil minister Sameh Fahmy looks for possibility of establishing an oil refinery by Egyptian companies in Ghana during his meeting today with vice-president of Ghana, John Mahama

MENA - Ahram online, Friday 10 Dec 2010
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Oil minister Sameh Fahmy discussed the construction of an oil refinery by Egyptian companies in Ghana during his meeting today with John Mahama, vice-president of Ghana, who is currently visiting Egypt.

Friday's discussions were about boosting Egyptian oil investments in Ghana. In two weeks the chairman of the National Oil Company will visit Egypt.

The National Bank of Egypt and the Tri-Ocean Oil Company will invest in the oil-rich African country, as reported on the occasion of a joint business conference, held in Cairo on Wednesday, 8th December.

There are currently 16 Egyptian companies investing in the Ghanaian market, ranging from joint ventures to purely Egyptian companies, with total investments of $80 million.

Among these companies are Euroget, Arab contractors, Mantrac Egypt, Wadi Degla and El Sewedy Electrometer Group, according to an announcement from the vice-chairman of the General Authority for Investments and Free Trade zones (GAFI) Neveen El Shafei, during the opening of the Ghana-Egypt Trade and Investment seminar last week. 

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