Head of the Egyptian Commercial Service (ECS) Yahya Elwathik Bellah Ahmed said a Malaysian company is currently discussing the possibility of establishing a dlrs 30 million-project for producing Palm Oil, at the Suez Canal Economic Zone (SCZONE).

In statements Sunday, the head of the ECS said the project consists of two phases; the first comprises setting up a packaging center for Malaysian Palm Oil and render it an exportation hub for African states, as well as neighboring countries, with investments amounting to dlrs 10 million.

The second phase of the plant envisages the construction of a Malaysian oil refinery factory in the SCZONE, at total investments of dlrs 20 mn, according to the ECS head.

Source: State Information Service Egypt