Egyptian company will implement a major sugar production project in Jizzakh

The Ambassador of Uzbekistan Mansurbek Kylychev held a meeting with Emad Farid, the executive director of “Nile Sugar”, one of the largest sugar production enterprises in Egypt, the correspondent of “Dunyo” news agency reports.

During the conversation, the company discussed the issues of investing in projects in Uzbekistan, including the implementation of a full cycle project for growing sugar beet and sugar production in the Jizzakh region.

Emad Farid mentioned his visit to Uzbekistan on May 28-29 this year as part of a delegation led by the chairman of “Oraskom Investment Holding” Nagib Sawiris and a meeting with the head of our country. He also said that during the trip he witnessed the huge reforms and renovations that are being carried out in our country at the initiative of the President of Uzbekistan. It was emphasized that broad conditions and privileges for free activity have been created for foreign investors, and a favorable investment environment has been created.

The interlocutor expressed awareness of the development of the agricultural sector of Uzbekistan, the fertility of the land, good water supply, and the existence of a unified state system that unites private farmers. These factors motivate the implementation of the project to create a sugar production in our country by the company “Nile Sugar”. “We are ready to implement a major investment project worth $500 million, including a full cycle of sugar beet cultivation and sugar production, on 52,000 hectares of land that is planned to be allocated for our company in the Jizzakh region”, – said Emad Farid.

According to the diplomatic mission in Egypt, a delegation of the “Nile Sugar” company is in our country on a business mission from July 17 to 21 to get acquainted with the possibilities of starting a business in Uzbekistan, studying land productivity in the Jizzakh region.

“Nile Sugar” was founded in 2006 by the Sawiris family of Egyptian billionaires. The company is engaged in the cultivation of sugar beets and the production of sugar. The company’s sugar plant is located 50 kilometers from the port of Alexandria and was put into operation in 2010. The nominal production capacity for beet processing is 7.5 – 11 thousand tons per day.