Sugar production project in Egypt gets funding support


In Cairo , Egypt , a production unit of sugar , worth 2.5 billion Egyptian pounds , about 357 million dollars can go into operation in 2016 , after sponsors of the Middle East , enter the project this week .
The facility, called Al Nouran intends refine more than 500 tons of sugar per year, reducing the dependence of the country on imported sugar by 25 % according to a spokesman for ICD – Islamic Corporation for the Development Sector private to the Gulf Daily News . The ICD is part of the Islamic Development Bank private sector based in Jeddah , plans to invest up to 46 million dollars in the project . The shareholders of the project include Multitrading , DCI, based in Kuwait Arab Fund for Economic and Social Development and the Egyptian Sugar and Integrated Industries.

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