ASORC injects EGP 1.7B into replacement, upgrade projects in FY2022/23

Updated 9/24/2023 8:02:00 AM
ASORC injects EGP 1.7B into replacement, upgrade projects in FY2022/23

Arab Finance: Assiut Oil Refining Company (ASORC) has pumped over EGP 1.7 billion in investments during fiscal year (FY) 2022/2023 to implement replacement and upgrade projects, as per a statement.

These investments have been also injected into enhancing the requirements of occupational safety and health, protecting the environment, and commencing new production units.

The company has refined around 3.3 million tons of crude at a value of $3 billion in FY 2022/2023 to supply the local market, ASORC’s Chairman Maged El Kurdi stated.

El Kurdi noted that after the execution of the high-octane fuel production park, ASORC carries out several ongoing projects to scale up its production capacity.

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