Dubai – Mubasher: Dubai-based Al Khaleej Sugar Co, the world’s largest port-based sugar refinery, said that it has signed an agreement with the Egyptian government to build a major agro-industrial complex to produce beet sugar, Reuters reported on Sunday.
The Emirati company will set up the Egyptian project, named Al Canal Sugar, only about 200 kilometres (125 miles) far from sugar market, managing director of Al Khaleej Sugar Jamal Al-Ghurair told an industry conference in Dubai.
Egypt is expected to be self-sufficient of sugar when the refinery operates, project’s CEO Islam Salem told the conference, adding that Al Ahly Capital, the private equity arm of the National Bank of Egypt, is a key financial partner for Al Canal Sugar.
The project is projected to start production in mid-2020 with full capacity reached in February 2021,” Salem noted.
The mill will span over 77,000 hectares (190,000 acres) and be farmed with wheat and beet in winter, and corn in summer, Salem said.
