logo_anba_en logo_camera_en
05/02/2018 - 13:28hs

Egypt can become sugar self-sufficient with new plant

Refinery from Dubai signed an agreement with the Egyptian government to produce beet sugar in the city of Minya, 240 km from Cairo. Yearly volume should reach 900,000 tons.

São Paulo – A sugar refinery from Dubai, Al Khaleej Sugar Refinery, will build an industrial complex to produce beet sugar in Egypt. An agreement was signed by the Egyptian government with the company, which should produce 900,000 tons of sugar per year in the new plant and enable the country to cover its demands in the sector.

The project is named Al Canal Sugar and the plant will be built in the city of Minya, 240 km from the Egyptian capital Cairo. Details on the new venture were released by the president of Al Khaleej Sugar Refinery, Jamal Al-Ghurair, and other authorities in a conference about sugar this Sunday (4) in Dubai, United Arab Emirates.

Egypt’s minister of Investments and International Cooperation, Sahar Nasr, said that the project will demand USD 1 billion in investments. She also stated that the plant will send Egypt into sugar self-sufficiency.

Egypt produces sugar, but also imports it. The Arab country’s output is one million tons of cane sugar and 1.3 million tons of beet sugar per year. Domestic consumption is of 3 million tons per year. According to minister Nasr, Egypt will also be able to, possibly, export sugar.

The project’s CEO, Islam Salem, said that the plant will go into operation in the middle of 2020 and will reach full capacity in February of 2021. The venture will occupy 77,000 hectares and the beet production capacity will be of 750,000 tons during harvest period, which goes from February to June. Outside the harvest period, the plant will be able to process raw sugar coming from other places. The plant will also produce wheat and corn.

The company’s main partner for the investment will be Al Ahly Capital Holding, the private equity arm of the National Bank of Egypt, according to the websites of the local press.

*Translated by Sérgio Kakitani

Send by Email


Your comment will be sent to a moderator before being published.