ArabFinance: The Egyptian Holding for Natural Gas Company's (EGAS) Board of Directors (BoD) approved contributing to the establishment of a new company to produce bio-methanol from molasses.

EGAS contributes to USD 6 million in the new company's capital which is amounting to USD 40 million. It will pay the down payment by 25% of its contribution amount, worth USD 1.5 million.

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