UAE to spend up to $250 million on ethanol investment

The Egyptian government proposes the UAE invest $250 million in a 100,000 tonne per year molasses-based ethanol plant.

Egypt has also suggested the purchase of a $240 million ethanol plant that would use 100,000 tonnes per year of rice straw as feedstock.

The UAE has expressed interest in investing in the country's petrochemical sector and is currently deciding which project to invest in.