Egypt advances plans for global grains, oils logistics hub – PM

Egypt’s Prime Minister Moustafa Madbouly said on Monday discussions are currently underway with several countries to establish logistics hubs for grains and oils in Egypt.

He added that the initiative had already been discussed between President Abdel Fattah El-Sisi and the leaders of these countries to strengthen cooperation in this vital sector and enhance food security.

This came during a meeting held to follow up on the latest developments in the establishment of a global hub for the storage, supply, and trade of grains and oils in Egypt.

The meeting reaffirmed that the project to establish the global hub for storage, supply, and trade of grains and oils in Egypt is among the key areas of cooperation under discussion between Egypt and several partner countries. It was agreed with the relevant officials to prepare technical studies on both sides and to negotiate the storage mechanism.

The meeting also stressed the importance of swiftly finalising the required studies, setting a clear implementation timeline, and designating a responsible ministry or entity to oversee the project file.

At the conclusion of the meeting, Madbouly tasked the Ministry of Supply and Internal Trade and the Future of Egypt with expediting the preparation of a detailed feasibility study. The study will define the required size of the logistics hub, construction costs, expected returns and added value, as well as Egypt’s potential contribution to the project and the associated investment incentives.

Attribution: Amwal Al Ghad English