KBC Retained As Owners Technical Representative For Egyptian Refining Company

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KBC Advanced Technologies plc (KBC) announces being retained by Egyptian Refining Company (ERC) in the role of Owners Technical Representative in Egypt.

KBC is pleased to have been able to make a considerable contribution to the development of the project to date, and we look forward to an active role during the remaining phases.

KBC Advanced Technologies plc (KBC) announces being retained by Egyptian Refining Company (ERC) in the role of Owners Technical Representative in Egypt.

With this contract, KBC acts as technical consultant to ERC on a new refinery being built in Mostorod, north of the Egyptian capital Cairo. The $2.25bn Hydrocracking Complex is scheduled for completion in 2011, with an annual capacity of 4.7 million tonnes (about 100,000 bpd) of refined products.

KBC has contributed to the project from its inception. Our work began with services related to the conceptual plan of investing in a new refinery project adjacent to the existing Cairo Oil Refining Company Refinery. Our KBC Market Service analysts completed a market outlook study and short and long term price forecasting. Further KBC work has provided a broad range of services associated with the role of Owners Technical Representative including due diligence study, feasibility study, configuration optimisation, and development of licensor enquiries and invitations to tender FEED (front-end engineering) contractors, Engineering, procurement, construction (EPC) contract negotiations and more. All of these services are part of the Capital Excellence (CapX) range of services provided by KBC.

Marwan Elaraby, Chairman of ERC said “KBC’s involvement in this multi-billion dollar project has been fundamental in ensuring the fast track schedule has been kept on track. In addition, KBC’s independence and expert knowledge has ensured that we have been properly advised throughout the project.”

George Bright, KBC CEO said “KBC is pleased to have been able to make a considerable contribution to the development of the project to date, and we look forward to an active role during the remaining phases.”

About ERC:
Egyptian Refining Company was formed by Citadel Capital, an Egyptian private equity firm with investments in fertilizers, energy and cement. State-run refiner Egyptian General Petroleum Corporation owns 15 percent of the company.

About KBC:
KBC Advanced Technologies plc, a leading independent consulting, process engineering and software group, delivers improved operating performance to the oil refining, petrochemical, and other process industries worldwide. We provide process consulting, strategic planning advice, energy price forecasting and market analysis, economic studies, capital project services, and training to help clients achieve their business objectives and improve their competitive position. Our human performance improvement division provides organisational effectiveness services, training programs, operations manuals, and personnel development services. KBC consultants recommend changes for material and measurable improvements in profitability. To assist clients in realising such improvements, KBC provides implementation services and software solutions, including the KBC SIM models and Petro-SIM™ for process optimisation, and energy optimisation software packages. Formed in 1979, KBC has offices in the UK, USA, Canada, Singapore, the Netherlands, the Russian Federation, China, and Japan. For more information, visit http://www.kbcat.com .

Contacts for KBC Advanced Technologies plc
Corporate Communications
Tamra Daniels
Tel: +1 281 293 8200
tdaniels(at)kbcat.com

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