By Reuters Staff
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CAIRO (Reuters) - Egypt’s New Urban Communities Authority (NUCA), a government housing body, on Sunday signed a contract to sell 21 million sq m (2,100 hectares or 5,200 acres) of land to a subsidiary of Talaat Mostafa Group Holding for the construction of a new urban residential project.
The project, located along the Cairo-Suez highway near Egypt’s new administrative capital, will cost 500 billion Egyptian pounds ($32 billion), and the land, whose price was not disclosed, will be paid for in cash and in kind, company chairman Hisham Talaat Mostafa told reporters at the signing ceremony.
Reporting by Momen Saeed Atallah, writing by Nafisa Eltahir; Editing by Kevin Liffey
Egypt's New Urban Communities Authority (NUCA), a government housing body, on Sunday signed a contract to sell 21 million sq m (2,100 hectares or 5,200 acres) of land to a subsidiary of Talaat Mostafa Group Holding for the construction of a new urban residential project.
UPDATE 1-Egypt’s cabinet allows GASC to co-found shareholding shipping company -statement Reuters 12/31/2020
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CAIRO, Dec 31 (Reuters) - Egypt’s cabinet said on Thursday it agreed a draft bill to allow the state grains buyer, the General Authority for Supply Commodities (GASC) to co-found a shareholding shipping company to transport commodities in and out of the country.
The company, to be known as Atlantic Pacific Company for Shipping and Trade, will focus on the marine shipping of commodities within Egypt and abroad, and will own commercial shipping vessels.
GASC tenders frequently for vegetable oils and wheat, of which it is the world s largest buyer.
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CAIRO (Reuters) - Egypt aims to import 400,000-500,000 tonnes of sugar in 2021, the head of the the agriculture ministry s sugar crop council told Reuters on Sunday.
The country has imposed a temporary ban on sugar imports aimed at protecting its local industry, but exceptions may be made if approved by the trade and supply ministers.
Egypt s state-owned sugar buyer, Egyptian Sugar and Integrated Industries Company (ESIIC), set a tender on Dec. 13 to buy 50,000 tonnes of Brazilian raw cane sugar. (Reporting by Momen Saeed Atallah; Writing by Nadine Awadalla; Editing by David Goodman)