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Monday, 15 May 2017

Blumberg Grain seeks resolution with Egypt

Blumberg Grain seeks resolution with Egypt: Prime Minister Sherif Ismail has tasked the Justice Ministry’s Arbitration and International Disputes to assess Blumberg Grain’s demand for the government to disburse the remainder of what is owed for the first phase of the shouna development project, Al Borsa reports. A source told Al Borsa that Blumberg Grain has submitted an official request to settle its dispute with the Supply Ministry and to receive what it is owed for the first phase. We noted in February that “the government failed to get phase one of Blumberg Grain’s shouna program up and running in time for the harvest and was forced to then rely on what state investigators said were ‘unscrupulous’ private storage facilities, the operators of which were later investigated by the Prosecutor General’s Office.” However, Al Borsa says that Blumberg could resume its operations in Egypt if the dispute is settled and its representatives have already met with President Abdel Fattah El Sisi during his most recent trip to the US. Blumberg Grain has reportedly refused to fall under the jurisdiction of the Supply Ministry and asked for the only oversight over its operations to be from the Armed Forces’ Engineering Authority. Sources added that the Justice Ministry’s representatives are reviewing Blumberg Grain’s request and will move forward with a response “within days.”

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