Sokhna Petroleum Refining and Petrochemical Company is one of the Egyptian petroleum sector companies, which was established in May 2007 with local and Arab contributions for the purpose of establishing a project for refining petroleum, separating its derivatives and processing it.
Contributors Sokhna Refining and Petroleum Company
The company’s shareholders’ structure consists of the Egyptian General Petroleum Corporation with a stake of $ 49.980 million, Abdullah Al-Hamad Al-Saqer Company of Kuwait with a share of $ 45 million, the same for the benefit of “Sakia Investment” Company, in addition to a stake estimated at $ 16.20 million for the benefit of “Nile and Gulf Investment Company” Bahrain, in addition to a number of other shareholders.
The most important works and results of Sokhna Refining and Petroleum Company
- The General Authority for Investment approved the request submitted by “Sokhna Refining and Petrochemical Company” to establish an oil refining project with investments of up to $ 3.5 billion in the free zone system, bringing the number of oil refining companies approved by the Authority to work in this system to 3 companies: “Middle East Midor” – ” Egyptian Refining” next to “Sokhna” with a total investment of $ 8.2 billion, distributed by $ 1.2 billion investments of “Midor”, which the authority agreed to return to the free zone system, and $ 3.5 billion for “Egyptian Refining” in addition to the $ 3.5 billion investments of “Sokhna Refining and Petrochemicals”.
- Sokhna Refining and Petrochemical Company received the land contract with an area of 2.2 million square meters with investments of $ 4.5 billion to implement the project to establish an oil refinery with a production capacity of about 155 thousand barrels of oil per day.
- A Sino-European consortium signed financing contracts worth $ 1.44 billion with Sokhna Refining and Petrochemical Company to finance 85% of the contracting work of the first phase of the project to establish an oil refinery in Ain Sokhna.
- Citigroup Group, the financial advisor to Sokhna Refining and Petrochemical Company, covers 70% of the investment cost of the company’s plant in Suez, which is estimated at $ 3.5 billion.
- The Sokhna project is located on an area of 1.8 million square meters in the industrial division of Suez Governorate and has a refining capacity of 232 thousand barrels per day, including diesel, and provides 1200 permanent jobs and about 5000 indirect during the project period.
