Federation of Egyptian Banks, Al Ghurair Study EGP6bn Reclamation Project

Federation of Egyptian Banks (FEB) considers adopting a reclamation project in Menya governorate to plant sugar beet with initial investments estimated at 6 billion pounds (US$838 million).

This comes after Menya Governor had recently offered FEB to take part in financing the project, a high-profile banking source told Amwal Al Ghad on Sunday. FEB is expected to receive the feasibility studies on the project by the end of the current week, the source added.

Furthermore, the source referred that the UAE Al Ghurair Group had approved to go into a partnership in the project.