Egypt’s Qalaa Holdings to operate 100% of its refinery units in January

Qalaa Holdings will operate 100 percent of its refinery units in January and will raise its refinery production capacity, the company’s chairman said. (File photo: AP)

Egypt’s Qalaa Holdings, one of the country’s largest investment companies, will operate 100 percent of its refinery units in January and will increase its refinery production capacity to 5.5 million tons per year, the company’s chairman told Reuters.

Ahmed Heikal also said the company will offer shares of Taqa Arabia on the stock exchange in the second-quarter of 2020 and those of Arab Refining Co in the fourth-quarter of 2020. Heikal did not give details of the quantity of shares to be sold.

Qalaa Holdings, previously known as Citadel Capital, has subsidiaries in industries including energy, cement, agrifoods, and mining.
 

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 10:00 - GMT 07:00
Top