08 July 2012
Cairo-based Egyptian African Company for Investment and Development (EAC) will build a USD 200 million sugar plant south of the Tanzanian capital of Dodoma, EAC chairman Mostafa El Ahwal told Zawya.
Cairo-based Egyptian African Company for Investment and Development (EAC) will build a USD 200 million sugar plant south of the Tanzanian capital of Dodoma, EAC chairman Mostafa El Ahwal told Zawya.
The African Development Bank "is interested" in funding the project, which is slated to begin production in October 2014, El Ahwal said.
The project will have shareholders from Egypt and Tanzania and is part of the joint initiative between the Nile Basin countries, the chairman said. It is supported by the Egyptian- East African Business Council.
Production from the new plant will cover the needs of the local Tanzanian market and the surplus will be exported to Egypt, El Ahwal said.
© Zawya 2012
