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FINANCIAL NEWS
Egypt’s Beltone, Kenana to launch $1b agro fund
23 Mar 2010
(MENAFN) Egypt’s Beltone Private Equity and Sudan’s Kenana Sugar Company announced that they will launch a $1 billion agricultural investment fund later this month, Reuters reported.
Gulf and other Arab countries have been investing in a range of farming projects in Sudan, Africa’s biggest country by area and long viewed as having huge agricultural potential.
The new entity will be called Mahaseel Agricultural Investment Fund.
Kenana produces 400,000 tons of sugar a year. Its biggest shareholders are the Sudanese government with 35.63 percent, the Kuwait Investment Authority with 30.5 per cent and the government of Saudi Arabia with 10.92 percent, the firm’s website said.
The company’s farms span over 200,000 feddans (84,000 hectares) in Sudan.
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