A decision by the Egyptian public prosecution to freeze a major agricultural deal from the Saudi Arabian group Kingdom Holding has put in stark relief the political risks of investing in the country after the revolution in which its president Hosni Mubarak was ousted.
The deal involved the 1998 purchase of 100,000 feddans (42,000 hectares) of land in the Toshka area of Egypt that Kingdom Agricultural Development Company (Kadco) said would be developed into a vast agricultural project.
The first two phases would involve investments of 650 million Egyptian pounds (Dh401.5m), the company said in 2007. It did not disclose the amount it paid for the land.
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