Egypt: U.S.$500 Million UAE Investments to Set Up Industrial Complex for Sugar
Minister of Industry and Foreign Trade Hatem Saleh has discussed with representatives of a major UAE industrial group operating in manufacturing and producing sugar the possibility of establishing a mega industrial complex to produce quality white sugar from beet plant.
The compound will work at a capacity of 400,000 tons and investments of about 500 million dollars.
Saleh also reviewed with the UAE group the establishment of an agricultural project at 200,000 feddans to cultivate beets and other crops such as wheat.
In a ministry statement on Tuesday 22/1/2013, Saleh said the project is a largest investment, agricultural and industrial venture in Egypt.
The project aims at reducing Egypt's imports of sugar, he said. Saleh, meanwhile, reiterated the keenness of the government on luring Arab and foreign investments to the Egyptian market.
Egypt State Information Service (Cairo)