IDA to allocate 83 feddans to build sugar plant

Industrial Development Authority is set to sign contracts to allocate around 83 feddans in Portsaid for investors to build a new sugar plant during the current week.

Muharram Hilal, Chairman of the Supreme Group, said that his company is leading a consortium to carry out the project with total cost of €300 million, noting that the technical and financial studies of the project include directing the plant production capacity of 30,000 tonnes to satisfy the local market’s needs while exporting 20 percent of the total production.

He added that the project is set to be completed within a time frame of 30 months from the implementation date.