CAIRO, May 1, 2018 (MENA) - Petroleum and Mineral Resources Minister Tareq el Molla discussed with a delegation of Japan's "Toyota Tsusho " company, under Managing Executive Officer and Manager of Energy SBU Yoshihiro Inoue, investment opportunities in the fields of refining and petrochemicals in Egypt. The Petroleum Ministry said in a statement on Tuesday that the two sides reviewed a project to set up an integrated refinery and petrochemical complex. They also discussed Toyota's feasibility study for setting up the project, the statement said, adding that they agreed on carrying out more studies in this respect. They also mulled the possibility of the company's participation in a project for hydro-cracking of heavy fuel oil "Mazut" at Assiut refinery, which will be implemented at investments worth 1.9 billion dollars, according to the statement. They also discussed the implementation of a 600-million-dollar agreement that was signed between the Egyptian Natural Gas Holding Company and Toyota in April to purchase an offshore drilling rig capable of operating in deep water, the statement said.
