Arab News

Dubai’s sugar company to expand in Europe

- AN Dubai

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.

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