Italy, Egypt to sign 10 horizontal silos agreement in days

Supply and Domestic Trade ministry is to ink an agreement with Italy to build 10 horizontal silos for wheat storage in Egypt within days, Minister Khaled Hanafy said Thursday.

The ten silos are to be established at capacity of 500.000 tonnes annually and cost of US$17 million, the minister stated.

He noted that signing the agreement will be in the presence of international cooperation minister Naglaa Anwar Al Ahwany and the Italian ambassador to Cairo Maurizio Massari.

The silos -set to be finished within two years- are part of the first phase in the debt swap programme signed between Egypt and Italy, at value of US$45 million, Hanafy noted, Hanafy added.

The ministry has agreed with the Italian side to execute the second phase by establishing two logistics zones to store grains, vegetables and fruits with cost estimated at US$28 million, the rest value of debt swap programme, Hanafy clarified after meeting the Head of Local Technical Unit for Development Cooperation in Italian Embassy in Cairo Marco Platzer and other Italian officials.