UAE firm to invest 2 billion USD to develop sugar factory in Indonesia

Sacks of imported sugar are unloaded at Sunda Kelapa Port in North Jakarta, in this undated file photo.(Photo: JP)

Jakarta (VNA) - Dubai-based Al Khaleej Sugar Co. (AKS) plans to invest 2 billion USD to develop a sugar factory and supporting facilities in Indonesia, which could help fill the country’s supply gap.

Indonesian Industry Minister Agus Gumiwang Kartasasmita said on November 7 that AKS managing director Jamal Al-Ghurair had committed to the investment on November 2 during their meeting in Dubai.

“AKS will invest in an integrated sugar factory in Indonesia. Apart from producing sugar, AKS also plans to produce bioethanol and electricity from biomass," Agus was quoted by Antara as saying.

“AKS will develop ethanol fabrication from sugar. The ethanol is also expected to be an alternative fuel source," he said.

AKS has a sugar factory in Dubai with a capacity of 6,000 tonnes of sugar per day. Apart from owning a sugar factory in Dubai, AKS also invests in Egypt and Spain./.

VNA