Molla: New company for bioethanol at $100M investments

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Wed, 14 Apr 2021 - 01:08 GMT

Minister of Petroleum and Mineral Wealth Tarek El-Molla -REUTERS

Minister of Petroleum and Mineral Wealth Tarek El-Molla -REUTERS

CAIRO - 14 April 2021: Petroleum Minister Tarek Mulla chaired the foundation assembly of the Egyptian company for bioethanol at $100 million investments.
 

In press statements on Wednesday, he said the new project will be established on the lands of the Egyptian Holding Company for Petrochemicals in Damietta Port.
 

The new facility will produce 100,000 tons of bioethanol annually, he said.
 

He added that the new company was set up to secure local needs and export the surplus in addition to creating direct and indirect job opportunities. 

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