CAIRO: Egypt’s Petroleum Ministry signed a deal to set up a new project to produce high-octane benzene in Alexandria with investments worth some $300 million, it said in a Friday statement.
Petroleum Minister Sherif Ismail witnessed the signing of the deal between the Alexandria National Refining and Petrochemicals Company and UOP, the statement read.
“The project comes in line with the Petroleum Ministry’s strategy aimed to benefit the most from production units at refineries to increase its production capacity, in order to meet the growing demand in the domestic market,” Ismail said in the statement.