Combine all the ingredients in large pot over medium heat, stir until the sugar is dissolved. Reduce the heat to low.

Continue cooking string occasionally until the mixture starts to thicken and the color changes to a caramel tone and has a creamy consistency, about 2 hours.

During the last hour it needs to be watched closely to keep it from burning. It will thicken more when it cools down. It can be refrigerated up to 5 days.