Russian Melinvest makes technical offer for upgrading Egypt’s grain silos phase II

The Russian maker of flour mills and grain elevators Melinvest is currently preparing technical and financial offers for the second phase of upgrading Egypt’s grain silos project.

Melinvest leads a consortium of six Russian milling-elevator building and equipment companies, namely Elevatorprodmashstroy, that offered to build modern mills, grain silos, logistics centres for the storage of cereals and food commodities, in addition to factories to produce fodders and milk.

Consortium representative Magdy Shehata stated Monday that the technical offer includes providing grain cleaning equipment, dryers, and cleaning separators.

He added that the technical offer also encompass linking the upgraded silos electronically through a control system.

Shehata asserted that Russia will finance the necessary investments for upgrading the second phase on favourable terms.

The consortium have showed readiness to invest in Egypt in the light of the recent economic reforms undergoing in the North African nation.

The Russian consortium, which captures 70 percent of the Russian wheat market, has held talks in Egypt in 2014 and 2015 with Minister of Supply Khaled Hanafy to start their investments. Yet, no actual steps were taken by the Egyptian government and the plans were shelved, therefore the consortium then decided to seek other markets to make investments.