The International Finance Corporation (IFC) is considering a $40 million investment in Nile Sugar Company, a sugar beet project owned by one of Egypt’s leading business families, as the country works to reduce its dependence on imported sugar.
- The International Finance Corporation (IFC) is considering a $40 million investment in Nile Sugar Company to support Egypt’s sugar beet production.
- The financing will be split into two $20 million tranches, with one tranche from the IFC and one mobilized from third-party investors.
- The investment aims to develop over 13,700 feddans in Minya and support related infrastructure, equipment, and smallholder farmers.
- Nile Sugar’s refinery can process up to 11,000 tons of beets daily, producing 232,000 tons of white sugar per season for major clients like Coca-Cola and Nestlé.
The International Finance Corporation (IFC) is considering a $40 million investment in Nile Sugar Company, a sugar beet project owned by one of Egypt’s leading business families, as the country works to reduce its dependence on imported sugar.
The IFC, the private-sector lending arm of the World Bank, is evaluating a senior loan to Nile Sugar, a privately held producer founded in 2006 and now part of Naguib Sawiris’ Orascom Investment Holding, according to Ecofin Agency.
The proposal has been under internal review for several months and awaits final approval.
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The proposed financing would be split into two equal tranches of $20 million. The IFC would provide one tranche directly, while the other would be mobilised from third-party investors. The loan is structured with a seven-year maturity and a three-year grace period.
Orascom acquired Nile Sugar in 2019 for 3.7 billion Egyptian pounds (roughly $71.8 million at the time), solidifying its presence in Egypt’s agribusiness sector.
The acquisition gave Sawiris a stake in a strategic industry that the Egyptian government has been working to develop from the ground up.
The IFC funds would support the cultivation of approximately 13,711 feddans (5,760 hectares) of farmland in Minya, Upper Egypt, dedicated to sugar beet production.
The investment package also includes related infrastructure, machinery, equipment, and operating expenses, as well as support for smallholder farmers supplying the project, including seeds and other inputs.
These new plots are part of a broader 4 million-feddan (1.68 million-hectare) land reclamation program managed by the Egyptian Countryside Development Company, linking the project to national efforts to boost agricultural output and attract investment.
Nile Sugar’s refinery, located in Nubariyah along the Alexandria-Cairo desert road, can process up to 11,000 tons of sugar beet per day and produce roughly 232,000 tons of white sugar per season.
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Although the refinery is about 350 kilometres from the new farmland in Minya, it relies heavily on this supply, making the IFC investment crucial to the company’s operations.
The company supplies premium-quality sugar to a diversified roster of clients, including Coca-Cola, Pepsi, Heinz, Hero, and Nestlé.
Egypt Pushes Toward Sugar Self-Sufficiency
Egypt produced 2.8 million tons of sugar in 2025, with authorities aiming for 2.9 million tons in 2026, which would bring self-sufficiency to about 81%.
While this marks an improvement from 75.8% in 2024, the country still consumes roughly 3.2 million tons annually, meaning imports remain necessary.
Import volumes are expected to decline, falling from 1.8 million tons to 1.5 million tons in the 2024–2025 season. Projects like Nile Sugar’s expansion are central to Egypt’s long-term plan to close the gap and reduce the foreign currency burden of sugar imports.
