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  • 11-03-19

    Egyptian Canal Sugar secures USD169 funding agreement

    (MENAFN) Egyptian joint stock firm Canal Sugar and another group of six banks penned a massive deal valued at USD169 million.

    Under the agreement, the Egyptian company will be able to cover the expense of the acquisition, establishment and running of its project in western Minya for a six-month period.

    This comes while the company waits for the completion of a long-term loan deal worth USD700 million.

    Through the USD1 billion project, the firm is looking to set up the biggest beet sugar plant around the globe with an output capacity of 900,000 tons per year.

    MENAFN1103201900450000ID1098234309

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