**Minister of Petroleum Announces Financial Loan Closure for ANOPC Diesel Production Project in Assiut**
Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, confirmed that the successful financing of the **Diesel Production Project (Diesel Hydrocracking Complex) in Assiut** and the **closure of its project loan** represents a notable achievement for all participants, including strategic partners in the petroleum sector. He emphasized that this milestone underscores the **economic viability of this vital project**, which will serve the people of Upper Egypt and provide a significant portion of fuel supplies for development projects in southern Egypt.
During the announcement, El Molla highlighted that the **cooperation in securing this financing amidst current global changes** demonstrates the strong confidence of all stakeholders in the project and provides solid indicators of its success. He also praised the diligent efforts of all parties involved and noted that this announcement reflects the support of financial institutions, banks, and international companies for the Egyptian petroleum sector and its constructive projects.
He expressed gratitude to all who participated in this significant effort and collaborated to overcome challenges during the financing process, stressing that this will **accelerate the project’s execution**, put it on the production map, and contribute to **enhancing supply security and market stability**.
Eng. Mohamed Badr, Chairman of ANOPC, outlined the project’s implementation steps and the measures taken to secure the necessary financing. He emphasized that the Assiut Diesel Production Complex is one of the **most important projects in the Ministry of Petroleum’s strategic plan**, aimed at modernizing the refining sector to achieve **self-sufficiency** while adhering to **global environmental standards**. The complex will convert low-value diesel from Assiut Petroleum Refinery into **high-value petroleum products** with global environmental specifications, including **Euro 5 diesel** and LPG in quantities sufficient to achieve self-sufficiency for Upper Egypt, particularly in diesel.
Hisham Okasha, Chairman of the National Bank of Egypt, described the financing as a significant and challenging achievement due to its **social, environmental, and economic impact**, stressing that the success would not have been possible without the commitment and cooperation of all partners. He expressed pride in the National Bank of Egypt’s role as a **key partner in financing the Egyptian petroleum sector and supporting the national economy**.
Francesco Camarata, Business and Development Director for the East Mediterranean and Africa at **Technip**, expressed his satisfaction at witnessing the fruits of this important project and the ability to overcome all challenges.
Simon Lee from **Crédit Agricole Dubai** described the achievement as an important milestone that everyone should take pride in, highlighting the major challenges overcome and acknowledging the critical support of Eng. Tarek El Molla in resolving numerous obstacles. He also extended his thanks to all participants, noting that their determination was key to achieving this accomplishment.
