Ukraine’s Nibulon to invest USD 2 bn in upgrading Egypt’s grain storage and transport infrastructure
INVESTMENT WATCH- Ukraine’s Nibulon will invest USD 2 bn in upgrading Egypt’s grain storage and transport infrastructure under an agreement reached in May with Supply Ministry officials, according to a ministry statement. The investment will be split over four stages, the first of which is expected to begin during FY2018-19 and will involve building state-of-the-art silos along the banks of the Nile. The first are set to be built near the ports of Alexandria and Damietta. Nibulon execs are expected to visit Egypt this month to start setting up a local branch for the company and hiring a team to oversee the first phase of the project, which also involves the manufacturing of 20 barges, each with a capacity of 20,000 tonnes. The Ukrainian grains and oilseeds producer had signed an MoU with UN FAO in Cairo last year “to increase the efficiency of Egyptian companies, engaged in production of cereals, their storage and transportation.”
This came as an unnamed Ukrainian company reportedly made an offer to develop a USD 200 mn river port in Upper Egypt, a transport ministry official told Al Shorouk. The ministry intends to issue tenders to the private sector for the development and management of three ports in Assiut, Sohag, and Qena, under a 25-year usufruct contract, the official added, saying river transport will be a big theme for the ministry this year.