Egypt implemented 37 projects in petroleum sector at EGP 431.3 bln in last 2 years: Planning minister

Doaa A.Moneim , Tuesday 8 Dec 2020

60.6 billion of public investments were allocated to upgrade the petroleum and mineral resources sector in the current FY2020/2021, representing 8.2 percent of total public investments

Hala El-Said
Egypt’s Minister of Planning and Economic Development, Hala El-Said.

A total of 37 developmental projects have been implemented in the petroleum and mineral resources sector in Egypt in both FY2018/2019 and FY2019/2020 with an overall investment cost of EGP 431.3 billion, Minister of Planning and Economic Development Hala El-Said announced on Tuesday.

She explained that the 37 projects were implemented in 12 governorates across the country.

El-Said revealed that FY2019/2020 witnessed the implementation of 18 projects in the petroleum sector with a total cost of EGP 96.7 billion.

In September, El Said announced that EGP 60.6 billion of public investments were allocated to upgrade the petroleum and mineral resources sector in the current FY2020/2021, representing 8.2 percent of total public investments.

She added that the petroleum and mineral resources sector targets a production increase at the current prices by 7.2 percent; to reach EGP 586.6 billion in FY2020/2021, up from EGP 547.3 billion in FY 2019/2020.

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