Egyptian firm to construct fuel factory

19 November 2011: Egypt-based Food and Industries Holding Co (FIHC) has abandoned plans to build a sugar factory and decided instead to build a plant to produce airplane fuel from molasses, a by-product of the sugar production process, Ahram has reported. The project requires a total capital investment of LE1.5 billion, and according to Beltone Financial, 60% of the capital will be raised from sugar beet companies, including Delta Sugar, and 40 percent from the Egyptian Petrochemicals Holding Co. The factory is expected to produce 50,000 tonne of ethanol.

Source:Ameinfo