TUNISIA: Savola to invest US$500 million in three sugar companies
Published: 06/28/2012, 3:39:50 PM
Ministerial sources in Tunis say that an agreement in principle was reached between the Government of Tunisia and Saudi group Savola, according to Africa Manager magazine.
Under this agreement, Savola would partner with three Tunisian public and private companies working in the sugar sector.
A source said Savola would be willing to invest some US$500 million to enter the capital of three companies, namely "Tunisie Sucre" (Tunisia Sugar) which was seized from Belhassen Trabelsi and of which the Tunisian government had sold only 50%, the Tunisian Sugar Company of Beja and finally the Mohamed Kooli Company which produces sugar beet.