The US$ 1 billion Canal Sugar project in the Minya state, headed by the Emirati investor Jamal Al Ghurair, signed three contracts worth EGP 5 billion (US$291.3 million) to complete the establishment of beet sugar factory complex along with agricultural production.
The Delta Sugar Company announced on 26th November that it has contracted farmers to plant more than 114,000 feddans (118,314 acres) of sugar beet this year, an increase of around 20,000 feddans over the acreage planted last year.
The Dubai-based Al Ghurair Group has agreed to invest US$333 million into a new beet sugar factory and supporting sugar beet farming operation in the Minya province, Egypt.
Al Nouran’s US$ 360 million beet sugar plant will begin operating its first of four production lines of 14,000-ton beet per day, by Spring 2017.
Egypt’s sugar output in 2015/16 reached 2.2 million tonnes according to the press release from Ministry of Agriculture issued on 23rd June. This is an increase from 2.158 million tonnes in the previous year.
While ESIIC has successfully sold the entirety of its sugar stock Minister of Supply and Internal Trade Khaled Hanafy said the company’s production is not well marketed even though it is one of the largest producers of sugar in the Middle East and North Africa region.
Country Director of Business France in Egypt Ludovic Prevost said 12 French companies, specializing in equipment for the sugar industry and services, will visit Egypt for four days to discuss cooperation opportunities for investment with the public and private sectors in the sugar industry in Egypt.
The facility in Al Sharkiya province will co-refine sugar after the beet campaign is over. Beet sugar output is expected to be 250,000 tonnes annually. Sugar beet will be sourced from farmers in the province. The plant has a refining capacity of 300,000 tonnes, Mahmoud said.