CAIRO: Egyptian Sadat City Investors Association (SCIA) refused an aid proposal from the United States estimated to be worth U.S. $150 million, said Mahmoud Abu Seda, SCIA board director. The Association's refusal comes as the SCIA continues to make agreements with the U.S. Embassy regarding the financial cost of training employees. Association members asked the U.S. Embassy to bear the cost of employee training, without financial assistance. SCIA participation must not be influenced by political affairs, Abu Seda added. The U.S. Embassy refused to deal with the SCIA for this development, and any participation by Egyptian factory owners will be outside the responsibility of the Association, Abu Seda added. Sadat City Investors Association is the second largest industrial company in Egypt with a total investment volume – mostly for factories producing steel and iron products – reaching 12 billion EGP (U.S. $2 billion).
