IFC INVESTS IN EGYPTIAN REFINING COMPANY
July 1st, 2010
BY KEITH NUTHALL
THE INTERNATIONAL Finance Corporation (IFC), of the World Bank is to invest US dollars USD120 million into the Egyptian Refining Company, to raise environmental standards and clean Egypt's domestic fuel sources. The money will help build a USD3.7 billion hydro-cracking and coking refinery, transforming locally available fuel oil into lighter fuel products, such as ultra-low sulphur diesel.
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THE INTERNATIONAL Finance Corporation (IFC), of the World Bank is to invest US dollars USD120 million into the Egyptian Refining Company, to raise environmental standards and clean Egypt's domestic fuel sources. The money will help build a USD3.7 billion hydro-cracking and coking refinery, transforming locally available fuel oil into lighter fuel products, such as ultra-low sulphur diesel.
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