UAE evaluates €490 million ethanol projects

A senior official at the Ministry of Petroleum reports that Egypt is currently evaluating the proposal of three petrochemical projects to the UAE, two of which focus on bioethanol production totalling $490 million (€362 million).

One project involves the construction of a factory to produce bioethanol from molasses, with a capacity of 100,000 tonnes per year and an investment totalling $250 million. The project would begin in the next fiscal year.

The second ethanol proposal concentrates on building a factory for the production of bioethanol from rice straw that will reach an annual output of 100,000 tonnes. This project would receive $240 million and would go ahead in 2016.

The UAE has said of its willingness to invest in the petroleum sector and at present, is assessing which project to go ahead with.