Cargill wants license for sugar plant in Egypt

Agricultural conglomerate Cargill has requested a license to build a sugar refinery in Egypt with investments worth LE 600 million, Al-Borsa newspaper has reported. 'The final approval for Cargill's sugar refinery is part of the government's plan to encourage sugar production to decrease the gap between supply and demand in the country,' Amr Assal, head of Egypt's Industrial Development Authority, was quoted as saying by the newspaper. The new plant will be in the Damietta area on Egypt's north coast and is expected to start up one year after it receives approval, the paper quoted Hussien Elawendy, Cargill's adviser in Egypt, as saying.