The Sonker Bulk-Liquids Terminal at Ain Sokhna is a model for state-private sector partnership.
This statement by president of the African Finance Corporation (AFC) Samaila Zubairu came during his meeting Wednesday with Egyptian Minister of Petroleum and Mineral Resources Tarek el-Mulla.
The two officials discussed means of strengthening co-operation in oil and petrochemical projects, while coordinating efforts to increase joint investment, a ministry statement said.
The minister briefed the AFC chief on ongoing and planned ventures being implemented in oil, petrochemicals and mining nationwide.
“Egypt has adopted a national strategy to improve petroleum infrastructure along the Mediterranean and Red Sea coasts,” el-Mulla said, adding that $235 million has been invested in the project, which will serve as one of Egypt’s strategic centres for receiving, handling and storing petroleum products along the Red Sea coast.
For his part, Zubairu said the AFC is keen to invest in oil-related projects in Egypt, which is a leader in promoting the oil and natural gas industries.
