Cairo-based Sugar and Integrated Industries Company (SIIC), a 100% subsidiary of Egypt’s state-owned Holding Company for Food Industries, is negotiating a deal to establish a US$300mn sugar cane factory with a capacity of 300,000 tons per year (tpy) in Sudan.
The Egyptian government would contribute 10% of the sugar company’s capital, through SIIC and National Investment Bank, while the remaining 90% will be held by Sudanese banks, insurance and agricultural companies.
Negotiations are being executed to source half of the targeted investments from Saudi Arabia and other Gulf countries.
Hassan Kamel Hassan, chairman and managing director of SIIC says that SIIC is constructing sugar refining units for the Sudanese government at €
SIIC has a solid presence in Sudan since it has executed several rehabilitation and modernisation projects related to the sugar industry in Sudan in the 1990s. The combined value of five of these projects reached US$7.7mn.
SIIC’s lastest investment in Sudanese sugar was the construction of the White Nile cane sugar factory at a cost of US$325mn in Khartoum with a capacity of 300,000 tpy.
Hasan confirms that SIIC is also negotiating with the Iranian government, in light of the collaboration protocol that was signed on October 2005, to establish a paper manufacturing plant from the residue of sugar cane and a sugar beet factory in Iran.