Petroleum and Mineral Resources Minister Tarek el Molla said a new warehouse went operational in March at Hamra petroleum port that will increase by 40 percent its storage capacity to hit 2.13 million barrels.
Another warehouse is now being developed at the port, which lies around 120 kilometers west of Alexandria, the minister also said, adding that the investment cost of the two depots reached 64 million dollars.
The minister gave the remarks during a meeting by the general assembly of the Western Desert Operating Petroleum Co (WEPCO) that runs the port.
In a statement, the minister said preparations are under way for conducting new infrastructure expansions in Hamra port that will serve the regional center for the circulation, storage and trade of petroleum in Egypt and contribute to the State’s ongoing development plans in the Alamein area.
Molla added that the development of specialized petroleum ports is an integral part of his ministry’s strategy to transform Egypt into a regional hub for oil and gas trade and distribution, adding that Hamra petroleum port which lies on the Mediterranean coast is one of the most important harbors operating in this domain.
Source: State Information Service Egypt