Japanese, Korean firms to build diesel plant in Egypt
Friday, 31 August 2007
TOKYO, Aug 30 (AFP): Japanese and South Korean firms have won a 1.8 billion-dollar contract to build a diesel oil refinery in Egypt to respond to rising car demand in the emerging economy, the Japanese company said today.
Japanese trading house Mitsui and Co. said it and South Korean construction firm GS Engineering & Construction Corp. will build the plant on the outskirts of Cairo.
They will build the plant on behalf of the Egyptian Refining Company, which is 85 per cent owned by Egyptian investment fund Citadel Capital and the remaining by a state-run oil company.
Japanese trading house Mitsui and Co. said it and South Korean construction firm GS Engineering & Construction Corp. will build the plant on the outskirts of Cairo.
They will build the plant on behalf of the Egyptian Refining Company, which is 85 per cent owned by Egyptian investment fund Citadel Capital and the remaining by a state-run oil company.