Kuwaiti minister denies news to buy a share at Meidour refinery
Kuwait-Egypt, Economics, 4/28/2001

The Kuwaiti minister of oil Adel al-Sabeih has denied that his country has any intention to buy a share in Egyptian- Israeli Meidour oil refinery.

Al-Sabeih said in a statement to the Kuwaiti daily al-Watan replying to news reports on Thursday to this effect, that there is no intention to buy a share in Meidour refinery.

Al-Sbeih explained that his talks with the Egyptian minister of oil Sameh fahmi did not deal with the possibility of Kuwait's buying a share at the refinery, after Egypt buys Israel's share.

Worthy mentioning that the Egyptian general commission owns 60% of the refinery which works at a capacity of 100,000 barrels every day while the Israeli Meirhaf group owns 20%, the Egyptian al-Ahlai ( people ) bank owns 18% and 2% owned by investors working in the private sector.

Previous Stories:
  Ebeid stresses importance of Egypt-Kuwait Common interests   (4/18/2001)
  Egyptian oil minister: Plan to attract $20 billion in Arab and foreign investments   (5/10/2000)
  Supporting Kuwaiti investments in Egypt   (2/5/2000)

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