Al Nouran would not be where it is now and would not be able to realize its potential without the constant and unwavering support of our partners in growth.
Al Nouran is the sponsor and largest shareholder in Al Nouran Sugar. Founded in 1985, Al Nouran Multitrading (ANM) operates approximately one third of Egypt’s sugar imports, making it the largest private sugar trade house in the country. Its main activities include trading local or imported sugar — raw and refined.
ANM enjoys a high degree of flexibility that enables it to:
Currently, ANM trades 20% of free Egyptian market consumption, with imports amounting to 10% of the local deficit. Being a trade house, the company enjoys the flexibility of shifting between local white sugar and imported raw and white sugar, depending on the opportunities created through the changing local and international dynamics.
The Islamic Corporation for the Development of the Private Sector (ICD) is a multilateral organization affiliated with the Islamic Development Bank Group (IDB). Its authorized capital stands at USD 2.0 billion, of which USD 1.0 billion is available for subscription. The current subscribed and paid-in capital is USD 875 million and USD 568 million, respectively. Its shareholders consist of the IDB itself in addition to 51 member countries and five public financial institutions. The ICD’s headquarters are based in Jeddah, Saudi Arabia, and were established by the IDB Board of Governors during its 24th annual meeting in Jeddah in November 1999.
The ICD’s mandate is to support the economic development of its member countries by providing finance to private sector projects in accordance with the principles of sharia, or Islamic law. The ICD finances projects that are specifically geared to creating employment opportunities, bolstering the private sector and boosting exports. Furthermore, the ICD mobilizes additional resources for projects and encourages the development of Islamic financing and capital markets. It also attracts co-financiers for its projects and provides advice to governments and private sector groups on policies aimed at encouraging the establishment, expansion and modernization of private enterprises, as well as the development of capital markets, best management practices and enhancing the role of decentralized, market-oriented economies.
The Arab Fund for Economic and Social Development (the Arab Fund, or AFESD), based in Kuwait, is a regional Arab financial institution focused on funding economic and social development by financing public sector and private investment projects, providing grants and lending its expertise. The Arab Fund’s activities are characterized by a number of important aspects that make it a model of cooperation and Arab economic integration, and a reflection of outstanding joint Arab action.
The Arab Fund seeks to meet the development needs of member countries while simultaneously ensuring feasibility and transparency in all of its projects. In this context, the most important aspect of the Arab Fund’s operations is to consider the priorities of the projects and the policies established by member countries so that it does not impose any financial or economic conditions that could potentially interfere with such policies.
The loans provided by the Arab Fund to member countries are characterized as generally being concessional by providing relatively easy financing conditions to assist them in implementing development plans. Accordingly, the Arab Fund has paid close attention to improving the concessional nature of its loans by reducing interest rates to 2.5% for low-income Arab countries and to 3% for others. Furthermore, it has increased the grace period before the start of loan repayments to between four and six years and extended the loan term to between 22 and 25 years. This conciliatory approach bolsters the Arab Fund’s mandate and ensures that it maintains a focus on development and improving the economic plight of Arab countries that maintain low-to-middle GDP per capita.
The Egyptian Sugar and Integrated Industries Company (ESIIC) was established in 1868 and incorporated as a joint stock company in 1956 as a subsidiary of the Egyptian Holding Co. for Food Industries. The company operates and owns plants in 17 locations and produces all types of granulated sugar, molasses, honey, industrial alcohol, vinegar, acetic acid, organic solvents, adhesives and other items.
Since 1881, the company has grown and diversified to meet the needs of a large domestic market and expanded its reach throughout the region. With more than a century of industrial operations, ESIIC possesses a formidable engineering equipment fabrication and erection capabilities for sugar, food and chemical projects.
ESIIC has operated since 1980 as an international contractor with projects throughout the region, including but not limited to Sudan, Syria and Iran. Engineering and equipment fabrication has become the fastest growing portion of ESIIC’s operations due to its ability to produce high-quality products at low prices in order to maintain a competitive edge in export commodities markets. To achieve this efficacy, ESIIC places great emphasis on engineering technology and has entered into technical and licensing agreements with other international companies whereby it licenses, transfers or receives cutting-edge technology in a cost-effective manner. ESIIC has completed a number of sugar and integrated industries projects in Sudan, Nigeria, Syria, Saudi Arabia and Iraq. It has also installed five sugar factories with an individual capacity of 10,000 tons of cane per day (TCD), at a total cost of USD 149 million, in Iran’s Khuzestan province.
Beyond playing the role of a shareholder, ESIIC is shortlisted to also leverage its expertise in constructing and operating sugar facilities in the proposed project, ASSM (Al Nouran Sugar). The company is responsible for the construction of all sugar plants in Egypt, including the cane sugar facilities in Upper Egypt. ESIIC’s expertise and experience will prove invaluable to the project’s success.
Most notably, ESIIC has built all sugar plants in Egypt, with the exception of the Nile Sugar plant. This bolsters ESIIC’s credentials in its unparalleled understanding of Egypt’s geological, regulatory and operational nuances. This experience will ensure that ASSM benefits from ESIIC’s competence in the factory’s construction and operations.