Egypt studies grain, vegetable oil hub with BRICS investors

Egypt is studying the development of a logistics hub for grains and vegetable oils with potential participation from BRICS investors, Supply Minister Sherif Farouk said Wednesday, as the country seeks to expand food-sector partnerships and increase exports to Russia.

The proposed hub would combine trading, storage, and food processing activities, Farouk said during a session at the Russia-Africa Economic and Humanitarian Forum in Moscow.

BRICS investors could contribute capital, expertise, and trade networks to the project, he said. Its location and investment structure would be determined through technical and economic studies to meet domestic needs and strengthen Egypt’s role in regional food trade.

Investment opportunities extend to several locations across Egypt and are not limited to the Russian industrial zone in the Suez Canal Economic Zone (SCZONE), Farouk said. The choice of location for each project would depend on its requirements, including access to ports, available services, and proximity to suppliers and markets.

Farouk described the Russian industrial zone as an opportunity to deepen economic ties through investment, production, and trade. He stressed the importance of coordination with relevant authorities, clear timelines for bringing projects into operation, and stronger links with Egyptian suppliers.

The ministry sees opportunities to expand cooperation with Russia and other BRICS members in food processing, storage, logistics, and distribution, Farouk said, adding that such partnerships could support trade and investment.

Egypt is also seeking to expand its exports to the Russian market. Reliable shipping services, efficient payment arrangements, and stronger direct commercial partnerships would help support broader and more balanced bilateral trade, he said.

BRICS could help connect investors, companies, and financial institutions with these opportunities and explore suitable financing and payment options to support trade and investment, Farouk added.

The government’s shared objective is to turn cooperation opportunities into operational projects, increase trade, and deliver sustainable economic benefits, he said.