Egypt, Italian firms discuss $278M bioethanol production project
Minister of Investment and Foreign Trade Mohamed Farid held talks with representatives of Italian companies Proger and Draxil on the latest developments in an investment project to produce second-generation bioethanol using bagasse generated from sugarcane processing, with targeted investments of around $278 million. The meeting reviewed the latest technical and implementation developments of the…
Minister of Investment and Foreign Trade Mohamed Farid met with Proger and Draxil representatives to discuss a $278 million bioethanol production project using sugarcane bagasse. The project aims to convert agricultural and industrial waste into a valuable, exportable product, supporting Egypt's green economy and sustainable industries.
Farid emphasized the ministry's efforts to simplify investment procedures and attract more investment in green economy and biofuel projects. The project's success depends on utilizing local resources, deeper manufacturing, value creation, and export opportunities. The Italian companies discussed their vision for implementing the project and exporting a significant portion of the output to European markets to boost foreign revenues.
Technical tests and studies were reviewed, and the feasibility study was updated to determine the investment and financing structure.
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