Global Arab Network | Injazat Capital to advise on a bn agricultural project in Sudan

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Injazat Capital to advise on a $1bn agricultural project in Sudan

Global Arab Network - - Maha Karim

Saturday, 25 July 2009 23:24

Injazat Capital Limited, the leading investment bank in the MENA region, announced today that it would provide advisory services to White Nile Sugar Company Ltd. (WNSC) on completing the financing of its new $1bn sugar refinery and related products in Sudan.

WNSC is planned to be the largest integrated sugar and energy producer in Africa covering an area of 165,000 hectares.

The project is expected to have an annual capacity of 465,000 tons of white sugar using up to 128 MW of electricity and 60 liters of ethanol.

'Sudan is well placed to achieve rapid developments in the field of Agriculture,' said Rami Bazzi, Injazat Capital Senior Executive Officer.

'In the past decade, the country has experienced rapid increase in economic, population and urban growth, improved business climate, a surge in foreign and domestic investment in agriculture and an expansion in using new technologies.'

WNSC is designed to be one of the key global players in the sugar industry and to introduce new technologies into cultivating sugar cane. So far, more than 50% of the project was accomplished and is planned to be ready by end of 2010.

Kenana Sugar Company (KSC) is the principal shareholder who manages WNSC. KSC is a Sudanese agro-industrial company aiming at maintaining food security at home and internationally using sustainable resources through innovation and diversification in complete harmony with the environment.

'Building on KSC's expertise as the world's largest integrated sugar company and through transferring knowledge, implementing best practices and introducing new technologies, WNSC will be one of the lowest cost producers in the world. We are very proud to have the project in Sudan.' said Mr. Hassan Satti, General Manager of WNSC

The project is supported by several shareholders and banks from Sudan and the Arab world.

Global Arab Network

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