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Egypt development authority inks $100m sugar factory deal

Egypt's Port Said Sugar Co and the Industrial Development Authority (IDA) are set to sign a contract with a consortium of local and international companies to build a sugar factory for EGP600m ($100m) in the Port Said governorate. IDA has an EGP100m stake in the company, which is the value of the 450,000 sq m of land on which the plant will be built.