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Egypt plans more than $100m "major" wheat investment plans

The plan is to build a factory at EGP 100m, to be used to store wheat and grains, hence helping local demand and allowing export.
05.08.14 | Source: North Africa Post

Discussions between President Abdel Fattah Al-Sisi and his Minister of Supply and Internal Trade Khaled Hanafy during the weekend centered to plans that will ease the international wheat dependency burden of Egypt. Reports stated that the projects that were earmarked during their closed door meeting are three “major” internal investment plans. The plans are complimentary to each other and could even allow Egypt to export its produce.

The highest on the agenda was the possibility of building a factory estimated at EGP 100m. The aforementioned factory will be used to store wheat and grains. It is hoped that it could help to satisfy the local demand thereby allowing the country to export.

This project will be followed by the upgrade of storage facilities in the country. To ease the collection, handling, distribution and storage of the wheat, logistical zones will be established in all the governorates to serve as the third phase of the “major” investment plans.

Russia has been serving as one of the world’s main exporter of wheat. A disaster which befell its farmers has forced it to limit is exportation quantity hereby forcing certain countries heavily dependent on wheat such as Egypt to search for other options. The North African country’s situation was worsened by the political crisis that it was experiencing.