led by the National Bank of Egypt (NBE) to help finance its USD 1 bn sugar beet processing facility in West Minya. The facility is a joint venture between the UAE’s Al Ghurair Group, which holds a 37% stake in the project; the UAE’s Murban Energy (part of Alpha Dhabi), which holds 33%; and Al Ahly Capital, which holds the remaining 30%. The Emirati investors have invested some USD 220 mn in the project, while Al Ahly Capital has stumped up some EGP 1.6 bn, according to the NBE statement. So far, 18k feddans of beet have been planted since operations began, and 90% of the factory’s construction has been completed.
