Egypt plans to set up a new area for crude oil storage in El-Tebbin, south of Cairo, the petroleum ministry said in a statement.

The project, with an estimated cost of 1.8 billion Egyptian pounds ($96.21 million), aims to receive crude from Ain Sokhna terminal on the red sea and pump it to Upper Egypt.

Tarek El-Molla, the Minister of Petroleum and Mineral Resources, says a number of projects are planned for the region, including expansions of the infrastructure of the national network for transporting petroleum products.

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22nd June 2022