Dubai's Al Khaleej Egypt sugar project valued at $1bn - minister

DUBAI: Egypt's Investment Minister Sahar Nasr said on Sunday that Dubai's Al Khaleej sugar project in Egypt had an investment value of around $1 billion.

Speaking on the sidelines of the Dubai Sugar Conference, Nasr said the production capacity of the complex which will be in Egypt's Minya governorate, would be around 900,000 tonnes annually.

Nasr said the production would make Egypt sugar self-sufficient when the project is fully operational, with a future prospect for exports.

"We are even targetting that Egypt will export as you know there is a gap in the African market," she said.