Al Ahly Capital to invest EGP 1.5 bn in Al Ghurair sugar refinery in Egypt

INVESTMENT WATCH- Al Ahly Capital is investing EGP 1.5 bn in Al Ghurair Group’s Al Canal Sugar refinery, Head of Investment Karim Aboul Naga said on Thursday, Al Mal reports. That will give Al Ahly a 27% stake in the project, Aboul Naga said. We had heard earlier this month that the National Bank of Egypt was arranging a USD 1 bn syndicated loan for the UAE-based group’s new refinery project.