Minister of Supply and Internal Trade Khaled Hanafi signed a cooperation agreement for partnership and investment with Head of the Sudanese Business Association Saoud al-Berir.
The agreement includes having a group of Sudanese investors carry out investments at the international logistics center for grains and foodstuffs to be established in Damietta.
More than one million tons of wheat, grains and sugar will be handled at the center per year.
In statements on Monday following the signing of the agreement on Sunday on the sidelines of the 16th conference of Arab entrepreneurs and investors, Hanafi said the agreement is the first fruit of contracts of the center which aims at turning Egypt into a global logistics axis for grains to secure foodstuffs and grains for Egypt and for export.
The logistics center will operate after two years, he said, pointing out that it will include silos and storage areas that can accommodate from 2.5 to 7.5 million tons. It will also include five industrial investment areas to produce vegetable oil, soap, fructose, sugar and flour.
The project is expected to offer excellent income to Egypt and provide thousands of job opportunities, he added.