New strategy being put in place to develop Egypt's petroleum industry: Oil minister

MENA , Monday 25 May 2020

Tarek El-Molla
Egypt’s Petroleum Minister Tarek El-Molla (Photo: Al-Ahram)

Egypt's Petroleum Minister Tarek El-Molla has announced the national plan for the petrochemical industry and that a new strategy is being put in place to develop the industry, which will be implemented between 2020 and 2035.

The plan is being reviewed before approval and implementation within the coming period, El-Molla said.

In a statement on Monday, El-Molla said that 11 new projects to produce petrochemicals with a total investment cost of $19 billion are being studied and implemented.

El-Molla said that his ministry is keen on supporting the petrochemical industry and making it more suitable to developments and changes at the international level in the coming years.

He said that the strategy is keen on continuing increasing the added value of the activities and projects of the production of petrochemical in Egypt.

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