Dubai’s sugar company to expand in Europe
Dubai-based Al Khaleej Sugar Co., owner of the world’s largest sugar refinery, has won approval to build a factory in Spain, extending its reach beyond the MENA region, Bloomberg reported.
The company plans to start construction of the plant in Merida next year, said Managing Director Jamal Al-Ghurair. The agreement between its Iberica Sugar Co. unit and Spanish authorities was signed on Friday, he said.
The new factory will require an investment of about €500 million ($590 million) and will produce as much as 900,000 metric tons of sugar a year, Al-Ghurair said. Operations are expected to begin in 2024, he said.
Al Khaleej profits from refining raw sugar and redistributing it in the MENA region.