July 6, 2021

Canal Sugar’s plant to start production in Q1 2022

ArabFinance: Canal Sugar Company’s, a subsidiary of UAE-based Al Ghurair Group, agro-industrial project is expected to commence production during the first quarter (Q1) of 2022, Al Mal News reported on July 5th.

The factory, which aims to produce 900,000 tons of beet sugar, will create 3,000 direct and indirect job opportunities.

The development is expected to export secondary products at a value of up to $60 million (EGP 939.04 million) on an annual basis.

A company’s official earlier said planting for the project will begin in late October for the 2021 harvest.

Canal Sugar is an integrated Agro-industrial project incorporating reclamation and cultivation of 181,000 acres of land (c.76,000 hectare / 790 square kilometers), making it the largest agricultural project in Egypt since 1952.


Categories : finance & economy

Finance & Economy

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