Sugar production firms run by the Food Industries Holding Company (FIHC) agreed in principle with state-run petrochemical companies to launch a project for producing plane fuel, FIHC head Ahmed al-Rakaiby has said.
The estimated cost of the project is LE1.3 billion, Rakaiby said.
Rakalby told Al-Masry Al-Youm that both sides had held a series of meetings and agreed on preparing a joint feasiblity study to be approved by Petroleum Minister Abdullah Ghorab and Deputy Prime Minister Ali al-Selmy.
Rakaiby said the contribution to the project by the Sugar and Integrated Industries Company, a FIHC arm and the country’s biggest sugar producer, will be determined after the feasiblity study.
He explained that the project targets the production of ethanol from molasses, which would help to reduce the quantites of plane fuel imported by aviation companies operating in Egypt.
Translated from the Arabic Edition