Egypt mulls US$9 bln refinery and petrochemical complex with IOC

Egypt is in talks with India's top state-run refiner Indian Oil Corp. to jointly build a US$9 bln refinery and petrochemical complex in Egypt. IOC has been asked to cooperate with the Egyptian General Petroleum Corp to prepare a report on the project. IOC will decide upon the investment when a detailed report on the commercial viability of the project would only be ready by mid-2010. India?s state-run Engineers India Ltd (EIL) told hopes to conduct a feasibility study for the project, which will produce an estimated 180,000-300,000 bpd.