EGYPT – The Egyptian Countryside Development Company (ECDC) has signed an investment contract with Nile Sugar Company to develop 14,000 feddans of land in the extension of the West El Minya Area.
This collaboration is part of Egypt’s ambitious 1.5 million-feddan project aimed at boosting the country’s agricultural output.
Under this partnership, Nile Crops will spearhead the project focusing on large-scale sugar beet cultivation to produce white sugar along with other crops.
The ECDC, tasked with the implementation and management of the 1.5 million Feddan project, aims to enhance Egypt’s sugar production capacity through this initiative.
Abdel Wahab, Chairperson and Managing Director of ECDC, emphasized the cooperation’s goal to attract both local and foreign investments, thereby fostering sustainable development.
This initiative, which relies heavily on sugar beet cultivation, aligns with the company’s policy of creating integrated projects to expand agricultural areas and support related industries.
The project aligns with Egypt’s Vision 2030, optimizing water use, reducing import rates, and striving for self-sufficiency in sugar production.
Nile Crops plans to establish agricultural processing facilities as part of its production activities, which will benefit Egypt’s economy by supporting agricultural operations and manufacturing, alongside livestock development.
The decision to cultivate sugar beet is driven by its water conservation benefits, particularly since the 1.5 million feddan project relies on groundwater.
Nile Sugar Company aims to prioritize the local market, ensuring food security for strategic commodities, with any surplus being exported.
The CEO of Nile Crops Company expressed his enthusiasm for the partnership with ECDC, affirming the company’s commitment to advancing the project according to specified timelines.
He emphasized utilizing all available resources and expertise for the project’s significant benefits to Egypt’s economy.
Currently, Egypt produces approximately 2.8 million tonnes of sugar annually, while domestic demand stands at about 3.5 million tonnes, according to the Egyptian National Agriculture Library.
To address the shortfall, the government secured a supply of sugar beet for the sugar factories operated by the Holding Company for Food Industries.
In March 2024, the Egyptian Ministry of Trade and Industry extended the ban on sugar exports for an additional three months, allowing exports only when quantities exceed domestic market needs.
This measure, in accordance with Ministerial Resolution No. 88/2023, aims to stabilize the local sugar market amidst soaring prices.
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