Egypt: Technip to modernise Assiut, Midor refineries

Technip Italy announced two contracts on 27 July to modernise Egypt’s Assiut and Midor refineries. The first is a joint agreement with Egyptian General Petroleum Corporation and Assiut Oil Refining Company for the modernisation of the Assiut refinery in Upper Egypt. The $1.5bn investment aims at maximising diesel production and introducing the most modern refinery technologies to help meet growing local demand for petroleum products. According to the agreement, Technip will start initial work on the project immediately, as well as providing support to ensure project financing.