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Tuesday, 4 October 2022

Lots of investment flowing into logistics hubs and … cooking oil complexes

Supply Ministry tenders logistics + cooking oil complex projects, with more in the pipeline: The Supply Ministry has four logistics and retail hubs in the pipeline, along with three cooking-oil complexes worth a combined USD 321 mn — and signaled we could see another cooking oil complex in partnership with Malaysia.

#1- Retail & logistics hubs: The ministry is currently tendering two logistics and retail hubs in Kafr El Sheikh and Suez, Internal Trade Development Authority (ITDA) Deputy Chairman Walid Seif El Din told Enterprise. The ministry issued the conditions booklets for the two hubs, ITDA Chairman Ibrahim El Ashmawy said at a press conference this week. Sherif Younes’ US-based Vernbro Global Investment purchased the booklet for the Kafr El Sheikh logistics hub, while Al Rowad bought the booklet for the Suez retail hub, Seif El Din told us. The tenders will be awarded in two months, he added.

#2- Logistics hubs: The ministry is separately planning to contract for two two logistics hubs through direct order, Seif El Din confirmed to Enterprise. The first hub will be set up in the New Valley for sorting, freezing, packaging, and storing dates, while the second will be set up in South Sinai’s El Tor, Seif El Din told us. He declined to confirm to Enterprise the investment values for the hubs, but had previously told Hapi Journal that the ministry could offer up two hubs worth EGP 5.5 bn.

#3- Cooking oil complexes: Meanwhile, there are fresh tenders for three cooking oil complexes worth a combined USD 321 mn in Alexandria, Sohag and Al Sadat City, BDO Managing Partner Mohanad Taha said at a presser yesterday with Supply Minister Ali El Moselhy, according to Al Ahram.

#4- More coming with Malaysia? We could also see another cooking oil complex in the Suez Canal Economic Zone with Malaysian partners, El Moselhy said at the press conference, according to Al Shorouk. The complex will serve as a collection point and a platform for exporting oil products, including palm oil.

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