Italy will establish 10 horizontal silos for storage of wheat in Egypt, at capacity of 500.000 tonnes annually and cost of US$16.5 million, Egyptian supply minister Khaled Hanafy announced Thursday.
The minister clarified that Italy is set to finish the 10 silos within two years.
The silos are part of the first phase in the debt swap programme signed between Egypt and Italy, at value of US$45 million, Hanafy noted.
The Egyptian minister’s remarks come after his meeting with Marco Platzer – Head of Local Technical Unit for Development Cooperation in Italian Embassy in Cairo – and other Italian officials.
Moreover, Hanafy asserted that Italy has agreed to carry out the second phase by building up a large silo for wheat storage as well as two logistics zones for the storage of grains, fruits, and vegetables, at value of US$28.5 million. The second phase is to represent the remaining sum of the Italy-Egypt debt swap programme.