Minya Governor-General Osama el Qady conferred on Wednesday with Chief Executive Officer of Al Canal Sugar Company, a subsidiary of UAE-based Al Ghurair Group, on measures pertaining to the establishment of a sugar factory to be located west of Malawi city in Minya governorate, Upper Egypt.
Head of the Economic Committee at the Parliament Amr Ghalab and Director of Security and Governmental Relations at Al Canal Company attended the meeting.
During the meeting, the governor ordered executive bodies in the governorate and the investment management department to remove any impediments standing in the way of implementing the integrated project that will be established with total investments of US$ one billion.
He made it clear that the project is a national industrial and agricultural one that will meet the needs of the sugar sector in Egypt, adding that it is part of the national project announced by President Abdel Fattah El Sisi to reclaim 1.5 million feddans nationwide.
An Egyptian joint-stock company with principle shareholding participation from the UAE, Canal Sugar will reclaim 180,000 acres (feddans) of desert land in Minya to establish this first integrated agro-industrial project in the sugar production sector in Egypt and the world’s biggest beet-sugar factory with a capacity of 900,000 MT/year.
The Emirati group highlighted that this is the first integrated industrial-agricultural project in the field of sugar in Egypt, which will help to secure 50% of factories’ need of beets.
Industrial and agricultural products produced through this project, including exports, will amount to up to US$100 million per year of secondary products.(MENA)