CAIRO: Saudi billionaire Prince AlWaleed bin Talal’s Kingdom Agricultural Development Co. (KADCO) agreed to give back most of the land it was allocated for a farming project in southern Egypt, an Egyptian government spokesman said.
"Both parties agreed to the return to the Egyptian government of 75,000 feddans out of a total of 100,000 feddans," the Agriculture Ministry spokesman said on Wednesday. "The company will own 10,000 feddans while cultivating another 15,000 feddans that it doesn’t manage but will own in the future."
The farming project would use water pumped from Egypt’s Aswan High Dam reservoir along a 50 km (30 mile) canal to irrigate reclaimed agricultural land at Toshka, 60 km from the Sudanese border.
