Jul 02 2012
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Egypt's IDA to sign contract this week to build USD100m sugar plant
IDA's partnership in the project is to the tune of EGP 100 million, which is the value of 450,000 square meters of land on which the plant will be located. The other shareholders are Egyptian businessmen Fawzi Shendi, Omar Komi and Saeed Shendi, El-Nagdy said.
"We will invite the winning bidders to sign the final contracts during the next few days. The plant is expected to be functional 30 to 36 months later," El-Nagdy said.
Egypt produces 1.5 million tpa of sugar, meeting about half of the country's needs. The rest is imported.
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