Egypt Set to Inaugurate New Oil Wharf

Sunday, December 31, 2017

Taking steps forward in its bid to become a regional energy hub, Egypt is set to launch a new wharf for natural gas and petroleum product tankers in the Gulf of Suez.

The wharf, which is being built by SUMED, will have three berths to receive natural gas and petroleum products carriers. It is due to be completed shortly Al-Masry Al-Youm newspaper quoted SUMED chairman Mohamed Abdel-Hafez as saying.

SUMED is also building nine 300,000 cubic meter petroleum storage tanks and loading and offloading facilities. The tanks are due to be completed by the end of 2018.

NBK-Egypt provided $300 million in financing for the project.

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