Al-Nouran sugar project, Egypt
Name and Location
Al-Nouran sugar project, Egypt.
Client
Al-Nouran Sugar, which includes shareholders the Islamic Corporation for Development of the Private Sector (ICD), the Arab Fund for Economic and Social Development, and the Egyptian Sugar & Integrated Industries Company, as well as Al-Nouran Multitrading, a leading private-sector sugar trading house in Egypt.
Project Description
The project involves the construction of a megasugar-production facility.
The facility in Sharkiya province is expected to have an output of 250 000 t/y using beet, and then refine raw sugar when beet is not in season. Its refining capacity will be 300 000 t/y.
Al-Nouran also hopes to start ethanol production from the new plant and to export about 100 000 t of sugar after covering domestic demand.
Value
$ 357-million.
Duration
The facility will begin operations in the last quarter of 2016.
Latest Developments
The ICD, the private-sector arm of the Islamic Development Bank Group, has signed the shareholders agreement, the financing facilities and the initial working capital term sheets for the sugar project.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
Al-Nouran Sugar, tel +20 26 96 2800 or fax +20 26 96 2821.
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