{"id":634747,"date":"2018-01-23T04:18:13","date_gmt":"2018-01-23T04:18:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/23\/uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project\/"},"modified":"2018-01-23T04:18:13","modified_gmt":"2018-01-23T04:18:13","slug":"uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/23\/uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project\/","title":{"rendered":"UAE\u2019s Al Ghurair to invest USD 1 bn in sugar agriculture project"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- UAE\u2019s Al Ghurair Group will invest USD 1 bn in a massive sugar cultivation and processing project<\/strong>, which some are already calling the largest foreign direct investment in Egypt since the EGP float. The project will see the company develop 181k feddans of reclaimed desert land west of Minya to grow 1 mn tonnes of beets per year, Investment Minister Sahar Nasr announced in a press conference on Monday. The company will also develop a USD 400 mn sugar production facility, she added, according to Al Masry Al Youm<\/a>. The project is expected to cover 80% of Egypt\u2019s sugar supply deficit, which runs between 25-30%, said Agriculture Minister Abdel Moneim El Banna. The project is expected to be completed in four years.<\/p>\n

Meeting the demands of our collective sweet tooth appears to have become a top economic priority for the government<\/strong>, which on Sunday approved raising the price it pays local farmers for sugarcane to EGP 720 per tonne, up from EGP 700 per tonne. The new price will be applied retroactively to all sales to the government so far this season, Supply Minister Ali El Moselhy announced<\/a>. The government has purchased 1.2 mn tonnes of sugarcane from farmers during the current harvest season, which runs from January until May. Egypt is forecast to produce around 1 mn tonnes of sugar from sugarcane, in addition to 1.3 mn tonnes from sugar beets, Reuters reports<\/a>. Domestic consumption stands at around 3 mn tonnes each year.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- UAE\u2019s Al Ghurair Group will invest USD 1 bn in a massive sugar cultivation and processing project, which some are already calling the largest foreign direct investment in Egypt since the EGP float. The project will see the company develop 181k feddans of reclaimed desert land west of Minya to grow 1 mn […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634747","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"b5384ecd-0888-4840-a09f-716bfd6426b1","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[634740],"teaser":"","voice_url":""},"yoast_head":"\nUAE\u2019s Al Ghurair to invest USD 1 bn in sugar agriculture project - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/01\/23\/uaes-al-ghurair-to-invest-usd-1-bn-in-sugar-agriculture-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Al Ghurair to invest USD 1 bn in sugar agriculture project\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- UAE\u2019s Al Ghurair Group will invest USD 1 bn in a massive sugar cultivation and processing project, which some are already calling the largest foreign direct investment in Egypt since the EGP float. 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The NBE is\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597588,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/31\/canal-sugar-plans-new-usd-200-mn-grain-terminal-in-damietta\/","url_meta":{"origin":634747,"position":2},"title":"Canal Sugar plans new USD 200 mn grain terminal in Damietta","author":"enterpriseam admin","date":"31 July 2019","format":false,"excerpt":"INVESTMENT WATCH- Canal Sugar plans new USD 200 mn grain terminal in Damietta: Al Ghurair Group\u2019s Canal Sugar is planning to invest USD 200 mn in constructing a pier and grains terminal in Damietta, CEO Islam Salem said at a press conference, according to Reuters. The terminal will discharge 3k\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546375,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/15\/canal-sugar-company-gets-egp-12-5-bn-syndicated-loan-for-sugar-beet-factory\/","url_meta":{"origin":634747,"position":3},"title":"Canal Sugar Company gets EGP 12.5 bn syndicated loan for sugar beet factory","author":"enterpriseam admin","date":"15 May 2022","format":false,"excerpt":"Canal Sugar Company has secured loans worth EGP 12.5 bn from a consortium of 10 banks led by the National Bank of Egypt (NBE) to help finance its USD 1 bnsugar beet processing facility in West Minya, according to a press release (pdf) from the NBE. 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