Title: Sudan and Egypt signs an agreement to store grains in the Nile Delta
Author: SudaneseOnline News
Date: 11-25-2014, 04:12 PM
Khartoum-SudaneseOnline- Sudan and Egypt signed on Monday an agreement for investments in Egypt's new grain hub project in the Nile Delta.
Egypt's Supply Minister signed behalf of the Egyptian side, while the head of the Sudan Business Federation signed behalf of Sudanese side during the 16th Conference of Arab Businessmen and Investors held in Cairo on Sunday and Monday.
For his part, Egypt's Supply Minister Khaled Hanafi said in press statements after signing ceremony "This is the first agreement for the international logistics hub to store grains,"
He noted that the project to build a logistics hub to store, trade and manufacture grains and seeds in the Nile Delta would cost a total of LE15 billion and would be completed in two years.
The plan aims to turn Egypt into a centre for processing and re-exporting grains and agriculture commodities via the Delta governorate of Damietta.
The ambitious megaproject aims to build high-tech storage silos, which will raise Damietta's storage capacity to 7.5 million tones from the current 2.5 million tones.