Egyptian Minister of Supply and Internal Supply Khaled Hanafy met with head of the Russian trade union to discuss the possibility of forming an alliance to build silos and grain storage units in the Damietta logistics centre.
In October 2014, Hanafy announced three logistics centres that will be constructed in Damietta, East Port Said, and Safaga, with investments of EGP 13bn. The project, which seeks to handle and store grain and food commodities, is expected to be completed in two years.
The logistics centre will be constructed over 3m sqm and is expected to have a storage capacity of 65m tonnes.
The Russian representative requested that the two parties sign a cooperation protocol to build the silos and the grain storage units. The Russian Minister of Industry is set to visit Egypt in the next few days to discuss the bilateral economic relations between Egypt and Russia.
According to the Egyptian government, several offers have been made for participation in the project, including offers from Russia, Spain, Sudan, the UAE, Saudi Arabia, China, Canada, Slovenia, Iraq, and the US.
International Italian grain storage solutions company Mulmix also offered to participate in the establishment of the silos for storing wheat. Italian silo-manufacturing company Frame Srl met with Hanafy to discuss ways in which to collaborate in the Global Logistics Project.
Hanafy told Daily News Egypt in September that the government completed the project from the technical side, and the ministry is negotiating with interested investors.
“The project is now ready and is in the process of issuing a presidential decree,” he said. “Most investors have expressed their interest are Arabs and foreign investors, including 15-16 investors who expressed their desire to participate in this project.”