Dubai's port-based Al Khaleej Sugar Refinery has announced that it has signed an agreement with the Government of Egypt for the establishment of a major agro-industrial complex that would produce beet sugar.
Extending over 77,000 hectares, the agro-industrial complex named Canal Sugar, would be located in Minya governorate, about 200 kilometres (125 miles) from its market of consumers, as stated by Mr. Jamal al-Ghurair, the managing director of the refinery at an industry conference in Dubai.
According to Islam Salem, the project's Chief Executive at Al Ahly Capital Holding which is the key financial partner for the project, Egypt is expected to become self-sufficient in sugar upon establishment of the Canal Sugar project,
“The mill is expected to start production in mid-2020 with full capacity reached in February 2021,” said Islam Salem. The mill will also be farmed with wheat and beet in winter, and corn in summer.
In addition, Investment Minister Sahar Nasr said that the project costs around $1 billion and would produce 900,000 tonnes of sugar annually, filling a supply gap in the Egyptian market.
Minister of Public Sector Affairs, Khaled Badawi, said that the project expects to provide direct employment for about 20,000 workers during the construction phase, in addition to 3,000 indirect job opportunities, as well as work for up to 60,000 farmers.