Baker McKenzie advised Al Sharkiyah Sugar Manufacturing Company (Al-Nouran) as borrower in connection with the restructuring and top up of a senior Islamic Istisn’a facility and working capital facility to finance the operations of its beet sugar factory in Al Sharqia Governorate of Egypt. The financing was provided by a banking consortium led by Banque Misr.
The factory mainly produces sugar from sugar beets and refines raw sugar into white sugar with an annual production capacity of 235,000 tonnes of squeezed beet and a refining capacity of 318,000 tonnes of sugar. This project aims to bridge the gap between the supply and demand of white sugar in the Egyptian market.
Our Baker McKenzie Cairo team was led by partners Mohamed Ghannam and Lamyaa Gadelhak, and assisted by associates Mohamed Rasekh and Ahmed Shehata.
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