President Abdel Fattah El Sisi said on Sunday that Egypt's consumption of oil and gas cost about 124 billion pounds in the past nine months.

"Of all funds, 72 billion pounds were only collected from citizens," Sisi said in a speech during the inauguration of the expansion of MOPCO fertilizer factory in Damietta.

"To establish a power plan, it requires strenuous efforts and a big budget," Sisi added. 

Egypt's production of urea will increase to two million tons after the expansion of the MOPCO factory.

President Abdel Fattah El Sisi inaugurated early in the day the new expansion of MOPCO fertilizer factories in the petrochemicals complex at Dameitta governorate.

Sisi further listened to a detailed explanation about the expansion of the factory from Ministers Tareq el Mulla of Petroleum and Mineral Wealth and Khaled Fahmy of Environment.