CAIRO: The United Arab Emirates company Al Ghurair Group is planning to establish a large factory for beet sugar production in the Minya governorate, valued at 6 billion EGP, beginning next July, Minister of Industry, Foreign Trade and Investment Mounir Fakhry Abdel Nour announced on Sunday, Al Mogaz reported.
The Al Ghurair Group asked the ministry to provide about 150,000 acres to establish the factory, which is expected to produce 400,000 tons of beet sugar yearly, Al Mogaz reported. Nour said the government seeks to provide job opportunities and boost exports.
Meanwhile, Fawzi Shendi, the managing director of the Port Said Sugar Company, announced that a group of Egyptian businessmen are also establishing a factory for producing beet sugar in the southern part of Port Said, Al Ahram Digital reported Saturday.
The factory is expected to produce half a million tons per year, Shendi said, and will cost $400 million, Al Ahram Digital reported.
The factory will be built in 30 months and is expected to provide about 2,000 job opportunities, Shendi said.
Eng Islam Salem, the co-founder of the Minya Sugar Factory with Al Ghurair Group, said the new factory will be will be one of the largest in the Middle East and the African continent, Al Masry Al Youm reported. It is scheduled to begin production in 2017, he said.
The factory will rely on renewable energy and natural gas and diesel oil. Hassan Afandy, head of the sugar division at the Federation of Egyptian Industries, said Egypt will achieve self-efficiency in sugar production by 2017 with these investments, El Watan reported.
Egypt’s consumption of sugar reaches up to 2.8 million tons yearly, while its production amounts to 2 million tons, he said, adding that Egypt tends to import more quantities to fill the gap between production and consumption.