Injazat Capital to advise on a $1 billion Agricultural project in Sudan
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 $1 billion 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," said Mr. Hassan Satti, General Manager of WNSC, "We are very proud to have the project in Sudan.”
The project is supported by several shareholders and banks from Sudan and the Arab world.
About Injazat Capital Limited:
Injazat Capital Limited is a category 2 Islamic investment bank, delivering innovative solutions to institutional and individual investors. Registered in the renowned Dubai International Financial Centre and regulated by Dubai Financial Services Authority, Injazat Capital delivers a range of Sharia compliant financial services including fund management, investment banking, corporate advisory and other innovative financial services.