Cairo Refinery Project

Summary Information

The project is also know as the Mostorod Refinery Project

• Ownership: Citadel Capital
• Website: http://www.citadelcapital.com/
• Location: Near Cairo
• Capacity: 5.23 million tons/annum & 112,000 bbl/day
• Nelson Complexity:
• Project Stage: Completed
• Expected Completion: 2019
• Budget: $3.0 Billion

The Project

• Project Type: New Facility
• Project Summary: An upgrading facility to be built next to the existing Cairo Refinery and will use heavy products as feedstock.
• The Egyptian Refining Company (ERC) is building a state-of-the-art US$ 3 billion greenfield second-stage oil refinery in the Greater Cairo Area, which will produce over 4 million tons of refined products, including over 2 million tons of EURO V diesel, the cleanest fuel of its type in the world. ERC’s production will be sold to the Egyptian General Petroleum Corporation (EGPC) under a 25-year offtake agreement at international prices.
• Regulatory and environmental approvals for the project have been obtained and ERC has signed a lump-sum turnkey contract with GS Engineering & Construction / Mitsui & Co. The facility is expected to be fully operational by the end of 2015.
• The main part of the debt is expected to come from JBIC and Nexi with 40%. Kexim will provide 30% and the rest will come from the European Investment Bank (EIB) and African Development Bank (AfDB).
• Main Contractors: ERC has agreed an engineering, procurement and construction (EPC) contract for the project with a consortium formed between GS Engineering & Construction Corporation (GS) of South Korea and Mitsui & Company, Ltd. of Japan. Worley Parsons Ltd has been commissioned as the project management contractor on behalf of ERC for the construction program.
• Maire Tecnimont: Hydrogen Production Unit, Sulphur Recovery Units, Tail Gas Treatment unit, Amine Processing Unit

Refining Units

The ERC facility will consist of a vacuum distillation unit, a hydro-cracking unit, naphtha and distillate hydro-treating units, a reforming unit, a hydrogen plant and a delayed coking unit. one Hydrogen Production Unit (HPU) of 100,000 Nm3/h capacity; Three Sulphur Recovery Units (SRU) of 162.5 ton/day capacity each; One Tail Gas Treatment unit (TGT) of 325 ton/day capacity; One Amine Processing Unit of 90 m3/h capacity.

Terminal Capacity

Crude Oil: Refined Products:

Crude Supply

Will use heavy products from adjacent refinery.

Products Produced

Diesel, jet fuel and naphtha

History

• 2007 - Mitsui and GS E&C signed Engineering, Procurement and Construction (EPC) contract
• 2010 - Mitsui signs $200 million loan agreement
• 2012 - Maire Tecnimont signs contract for Hydrogen Production Unit, Sulphur Recovery Units, Tail Gas Treatment unit and Amine Processing Unit
• 2019 - The refinery was commissioned

Other Information

Political volatility caused serious delays to the project.

Relevant Links

• Project Web Page
• Mitsui and GS E&C signed US$1.8Bil Egypt refinery order
• News of Project Financing
• Awarded Contract of USD 1.8 billion for Overseas Plant Project Egypt ERC Hydrocracker Project
• Overview from IFC
• Overview from EIB
• Egypt's US$3.6bn refinery finance delay
• Signing of Loan Agreement for greenfield second-stage oil refinery in Mosorod, Egypt
• New Contracts For Maire Tecnimont In Oil, Gas & Petrochemical Business
• Qatar Petroleum announces the successful startup of a refinery venture in Egypt