Cairo – Mubasher: The Egyptian minster of petroleum Tarek El-Molla witnessed the signing of contracting agreements with Technip to set up a mazut hydrocracking complex to produce diesel, gasoline, and liquefied petroleum gas (LPG) in Assiut.

Technip also signed subcontracting agreements with the Engineering for the Petroleum and Process Industries (Enppi) and the Petroleum Projects & Technical Consultations Company (PETROJET), according to a statement on Wednesday.

With an investment cost of $2.8 billion, the project has a planned annual output capacity of 2.8 million tonnes of diesel, 400,000 tonnes of naphtha, 100,000 tonnes of LPG, 300,000 tonnes of coke, and 66,000 tonnes of sulfur.

The new complex, owned by Assiut National Oil Processing Company (ANOPC), is considered the largest oil refining project in Upper Egypt.