Deal #1498

Société Sucrière de Markala (Sosumar) project

CaneCo is the agricultural part of the project, majority owned by Mali Government.Illovo who was originally the majority owner, withdrew from the project in 2012 due to security concerns in Mali. Theoverall project cost is estimated at US$ 540 million.The cost of the agriculture component (public sector) is estimated at US$ 240 million, while the cost of the industrial component (private sector) is estimated at US$ 300 million. On the public side, the donors include African Development Bank, Islamic Development Bank, OPEC Fund, Saudi Fund, Kuwaiti Fund and KoreaEximbank. On the private side of the project, lenders include the African Development Bank and IFC, and commercial banks. USAID funded Sosumar partly to limit Chinese influence in Mali’s sugar industry, which was already significant through China Light Industrial Corporation. Political instability and disputes eventually halted the project The Markala Sugar Project in Mali is a Public PrivatePartnership (PPP)