The CEO of the Egyptian Sugar Canal Company said today that the company will produce 400,000 tons annually of white sugar when it begins production in the 2021 season.
He added that the West Minya project (in Upper Egypt) aims to establish the largest beet sugar plant in the world, and the sugar produced will be sold on the Egyptian market.
Islam Salem told reporters on the sidelines of the launch of the "Dubai International Sugar Conference" that the company's plant will finish construction this year, and the project will reach its full capacity of 900 thousand tons in 2023.
The project, which is estimated to be worth $ 1 billion, will be established with joint Emirati-Egyptian investments
Salem stated that planting of the 2021 crop will begin in late October. Upon completion of the full cultivation capacity of the project, half of the sugar will be produced from the beet grown, and the rest from the local farmers.
"The production is directed to the local market, because of the local deficit, it makes sense to be in the local market," Salem told reporters.
"But there are good economic opportunities for export to neighboring countries," he added.
The project also includes land for planting 150,000 tons of wheat, 135,000 tons of pulses and 130,000 tons of corn.