About the Company
Canal Sugar is an integrated agri-industrial project incorporating reclamation and cultivation of c.188,000 acres of land (c.790 square kilometers), making it the largest agricultural project in Egypt since 1952, in addition to a sugar processing plant with a beetroot processing capacity of 5.4Mn tons/annum.
The project’s total investment cost, worth USD 1Bn, is financed by both debt and equity and within its ownership structure are:
Jamal Al Ghurair Group, which owns and operates Al Khaleej Sugar in Jebal Ali, Dubai, which has attained its status as the largest and most efficient standalone sugar refinery in the world;
Al Ahli Capital, the investment banking arm of the National Bank of Egypt, with a portfolio of committed investments in agriculture, F&B and petrochemicals and Murban Energy, a UAE based investment fund with a main focus on international energy and hospitality sectors.
The project is located in Western Desert of Upper Egypt, in the South Western Part of El Minya governorate and should employ over 1,000 workers, by 2023, when the sugar processing factory operates at full capacity and its agricultural land is fully reclaimed to produce a variety of crops including, wheat, maize and chickpeas in addition to sugar beet.
Mission and Vision
By adopting a robust, vertically integrated business model, to produce essential staple goods, we aim to contribute largely to the nation’s subsistence level of food supply whilst maintaining an efficient cost structure through our use of state of the art precision farming techniques.
Reviving Egypt’s, once renowned, agricultural sector.
Our Projects Investments
The project investment cost is USD 998 Million and will be financed by USD 300 Million equity in addition to USD 698 Million debt financing. The targeted currency mix of costs is targeted to be 50% denominated in USD and the remaining in EGP
The Project will capitalize on full automation, mechanization and precision farming to grow field crops (wheat, maize, broad beans, chickpeas) competitively and in a sustainable manne