Egyptian Refining

One of the largest private-sector industrial development projects in Africa, ERC is a partnership between Citadel Capital & its co-investors & EGPC, which owns 15% of the projects.
EGPC's Cairo Oil Refining company(CORC) will provide ERC with fuel oil as feedstock.
The Egyptian Refining Company(ERC) is building a stat-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 int'l prices.