Supply Ministry to sign 1.3B EGP deal for new canning, silo facilities

With presidential direction, Egyptian Minister of Supply Khalid Hanafy, headed Sunday to the U.S. for a 3 day visit to sign an agreement with Bloomberg L.P. Company for executing three logistic projects in Egypt to improve storage and transfer systems, Al-Ahram reported Sunday.

The first project will be worth 1.3 billion EGP ($181.7 million) and address restructuring and renewing 164 Egyptian wheat silos along with applying modern storage technology to avoid waste, Hanafy was quoted as saying.

The second will be worth 1.1 billion EGP and establish 10 fruit and vegetable canning facilities. Hanafy said the project will reduce the cost of goods by 40 percent along with providing fresh vegetables for citizens.

He added the third project will be worth 700 million EGP and establish a factory specialized in producing storage technology and modern logistics to serve the local market along with exporting to Arab and African countries.

In related news, on Aug. 8, the Holding Company for Airports and Air Navigation announced that it will build “Cairo Airport City,” a project set to be completed in 2025 and worth 80 billion EGP, Mubasher reported Aug. 8.