State-held Egyptian Petrochemicals Holding Company (ECHEM) is considering investing US$8.5bn in the construction of a new refining and petrochemical project in the New El Alamein district near El Hamra (Egypt). The refining and petrochemical complex will have a production capacity of 3.4 Mt/year, including a refining capacity of 1.9 Mt/year for various oil products such as butane, kerosene, fuel oil and diesel. Neither the commissioning date nor the construction schedule have been unveiled so far.
Egypt currently has eight refineries with a capacity of 38 Mt/year, of which only 25 Mt/year are utilized. In 2017, about 26 Mt of refined products were produced in Egypt, a level which has remained stable during the last decade. In January 2019, the government issued plans to invest approximately US$9bn over the next four years to boost the domestic refined products output to 41 Mt/year.