Egypt-Russia consortium to invest in international grains hub

Supply Minister Khaled Hanafi said Wednesday that a Russian company is offering to enter into a consortium with Egypt to invest in a project to establish an international logistics hub of grains and foodstuffs.
The hub should be established in the Delta city of Damietta.
Hanafi said that national projects to be established in Egypt, such as the New Suez Canal, the grains logistics hub and the trade and shopping city will turn Egypt into an international logistics hub.
He believes such projects will attract many Arab and foreign companies to form consortiums with Egypt.
Egypt is already a party in consortiums with the UAE, Saudi Arabia, Jordan, Sudan, Uganda and Korea, Hanafi noted.