Planning Minister Hala Saeed said the total investments in the petroleum sector of the 2021-2022 FY are expected to reach EGP 65.3 billion, including EGP 16.6 billion for refining activities.

He made the remarks in press statements on Monday 23/8/2021 on the ministry’s plan on the petroleum sector in the 2021-2022 fiscal year – the fourth year of the mid-term sustainable development plan (2018/2019-2021/2022).

The petroleum sector is one of the main factors of economic growth, she said.

The ministry’s report focused on securing the country’s needs of petroleum products to realize sustainable development and magnify the petroleum sector’s contribution to GDP in order to turn Egypt into an energy trading hub.

The report tackled the strategic goals of this sector, especially the needs of local market, she said, highlighting the development of refining industries.

Source: State Information Service Egypt