Canal Sugar Company’s Development of a Large-scale Agricultural Farm

Helmy, Hamza & Partners, Baker McKenzie’s Cairo office advised the lenders.

Canal Sugar partecipated in a project for the development of a large-scale agricultural farm (approximately 188,000 acres) in Minya, Egypt, to produce, amongst other things, beet sugar; combined with a sugar beet processing plant with a production capacity of 937,000 metric tons of refined white sugar and additional by-products capacity for molasses and beet pulp.

The syndication was led by National Bank of Egypt and includes Qatar National Bank Al Ahli, African Export-Import Bank, Banque du Caire, Suez Canal Bank, the United Bank, Arab Investment Bank, Agricultural Bank of Egypt, Industrial Development Bank and Housing & Development Bank.

The Helmy, Hamza & Partners, Baker McKenzie Cairo, team was overseen by Managing Partner and Head of Projects Mohamed Ghannam (Picture) and included Counsel Victoria Long and Senior Associate Mohamed Elharmy and supported by Associates Ahmed Shehata and Khadija Eino. The UAE law aspects of the financing were covered by Habib Al Mulla & Partners, Baker McKenzie Dubai and the team was led by Sandeep Puri (Partner) and supported by Sabina Passi (Senior Associate), Farah Abed (Associate) and Marilyn Acquah (Trainee Solicitor).

Involved fees earner: Farah Abdel Rahman – Baker McKenzie; Khadija Eino – Baker McKenzie; Mohamed Elharmy – Baker McKenzie; Mohamed Ghannam – Baker McKenzie; Sandeep Puri – Baker McKenzie; Ahmed Shehata – Baker McKenzie; Sabina Passi – Habib Al Mulla & Co; Victoria Long – Helmy, Hamza & Partners;

Law Firms: Baker McKenzie; Habib Al Mulla & Co; Helmy, Hamza & Partners;

Clients: African Export-Import Bank; Agricultural Bank of Egypt; Banque du Caire ; Housing & Development Bank; Industrial Development Bank; National Bank of Egypt; Qatar National Bank Al Ahli; Suez Canal Bank;