Egypt’s Qalaa Holdings seen revenues surpassing $5.25 bln next year

Egyptian investment company Qalaa Holdings is expecting revenues to exceed 90 billion Egyptian pounds ($5.25 billion) by next year, its chairman told Reuters on Sunday.

Between 50 and 55 billion pounds will come from Qalaa’s Egyptian Refining Company, which will commence operations in the third quarter of this year, Chairman Ahmed Heikal said. The refinery is expected to produce 2.4 million tonnes of diesel per year, he said.