EK Holding Sets Up Egyptian Oil Tanker Co.and Is Authorized to Build an Oil Refinery at Ain al-Sokhna

摘要

Egypt Kuwait Holding Company (EK Holding) is continuing to expand its activities in the downstream oil and gas sector,where it is mainly involved in the distribution of natural gas at present.In association with several Egyptian companies and banks,it signed an agreement in November for the creation of a joint shipping venture to be called the Egyptian Oil Tanker Company.EK Holding is to have a 30% interest in the venture,while the other 70% will be divided between the Egyptian General Petroleum Corporation (EGPC),Middle East Tankage and Pipeline Company (Midtap),Petroleum Maritime Services Company (PMS),the National Navigation Company,the National Bank of Egypt (NBE) and Banque Misr.The new company will offer a range of shipping services to local and international companies operating in Egypt and abroad.