Egyptian-Emirati company for marketing oil products
Egypt-United Arab Emirates, Business, 3/12/2003

Egypt's oil minister Sameh Fahmy declared that the strategy of the oil sector is based on increasing exports, attracting investments, diffusing technology and providing the domestic market with oil, gas and petrochemical needs.

He indicated to the diversity of the foreign investments in the oil sector and that the policies of the oil sector aim at attracting more investments, especially the Arabic investments for enhancing the Arab joint cooperation through setting up mutual projects between Egypt and the Arab countries that include all stages of industrializing oil, natural gas and petrochemicals for enlarging the mutual benefit.

This came during the meeting of signing the contract of Emirates-Egypt Co. between the Middle East Co. for containers and oil pipelines "MIDTAP," the Middle East Co. for oil refinement "MIDOR" and the Emirates oil Co.."

The contract was signed by chairman of MIDTAP Co. Maher Abaza from the Egyptian side and chairman of Emirates Co. Rashid Hamad from the Emirati side.

The interest of the Company totals LE500 million halved between Egypt-Emirates Co., MIDTAP and MIDOR.

Egypt-Emirates Co. will work in setting up 69 advanced stations in the main cities, on the main roads and other areas.

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