With investments of over $400 million, Canal Sugar Company announced on Tuesday that the world's largest sugar-producing plant has officially begun operations.
With a daily production capacity of 18,000 tons of sugar, the factory's first and second lines have been put into service in anticipation of expanding to a maximum production capacity of around one million tons annually.
In accordance with the state's vision for sustainable development in Egypt 2030, which is primarily based on achieving self-sufficiency in basic and strategic commodities, the company will positively contribute to Egypt achieving 100 percent self-sufficiency in sugar once the maximum capacities are reached.
The Canal Company, controlled by the UAE's Al Ghurair Group, has confirmed the establishment of the world's largest beet sugar factory, representing an investment of approximately $1 billion. This factory is expected to produce over 900,000 tons of sugar annually. Additionally, the project involves developing and reclaiming 181,000 acres of desert land, utilizing groundwater to yield 2.5 million tons of sugar beet each year. This land will also be used for cultivating strategic crops such as wheat, corn, and chickpeas.
This initiative is set to significantly reduce Egypt's sugar production-consumption gap, which currently stands at 1.1 million tons per year, by covering 75 percent of this deficit. The project is also poised to diminish the need for imports, which are valued at around $900 million annually, and plans to export by-products estimated to be worth 120 million tons each year.
In addition to producing white sugar, the Canal Company aims to export 216,000 tons of beet pulp and 243,000 tons of molasses annually. This project represents the largest agricultural and industrial endeavor in Egypt since 1952, including extensive desert land reclamation.
The Emirati contribution to the Canal Sugar Company, an Egyptian joint-stock company, accounts for 70 percent of its capital. This includes a 37 percent stake by Emirati businessman Gamal Al Ghurair Group, serving as the technical sponsor, and a 33 percent share by Murban Energy, acting as the financial investor. The remaining 30 percent is held by Al-Ahly Capital Holding Company, a subsidiary of the National Bank of Egypt, which also functions as the exclusive financial advisor for the project.
Established with contributions from the Emirati Gamal Al Ghurair Group of Companies, Al Ahly Capital Holding Company, and the UAE Murban Energy Limited Company, the Canal Sugar Company is dedicated to creating the largest global white sugar factory from sugar beet. The factory, covering an area of 240 feddans, is part of a broader initiative that includes the reclamation and cultivation of 181,000 feddans, with total project investments estimated at around $1 billion.
The project also features the world's largest sugar storage silo, with a capacity of about 417,000 tons. It has significantly contributed to job creation, providing 1,500 direct employment opportunities and supporting approximately 50,000 farmers and indirect workers.
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