Leading Russian grains firm eyes investing in Egypt’s silos field

A leading Russian firm working in grains field eyes investing in Egypt through establishing and upgrading grain silos and granaries.

Firm’s representative in Egypt, Magdy Shehata stated Saturday that the company has expertise in all fields related to storing grains since it seizes 70 percent of Russian grains market.

The official noted that Russian investors believe in the importance of investing in Egypt as it has population of 90 million. Additionally, Egypt’s geographical locations allows it to be a hub for international firms to store their grains in Suez Canal region to be exported then.

Shehata emhpasised that Russian investors keen on pumping large investments through opening credit line for Egypt to provide and execute all governmental works in coordination with Russian financial organisations.