The General Authority for Investment and Free Zones (GAFI) and Petrotrade signed, Monday, a cooperation protocol to regulate the safe disposal of petroleum waste and waste mineral oil.

GAFI will make it mandatory for the 2,400 oil companies operating in Egypt's investment and free zones to deliver their waste to Petrotrade, which will be provided with the data of such firms. The move is aimed at inhibiting the infirtlation of those dangerous substances into the black market, which would cause harm to the environment.

On its side, Petrotrade will be committed to offering its services in competitive prices under the umbrella of GAFI, as well as environment incentives and a certificate to companies complying with conditions and regulations pertaining to the safe disposal of petroleum waste.