Ministry Of Supply And Internal Trade Of Egypt: Nibulon To Invest USD 2 Billion In Construction Of Granaries In Nile Delta

Mykolaiv-based Nibulon company, one of the largest agricultural enterprises of Ukraine, intends to invest USD 2 billion in the construction of granaries in the Nile Delta in Egypt.

The Ministry of Supply and Internal Trade of Egypt announced this in a statement, Ukrainian News Agency reports.

According to the statement, the project will be divided into 4 stages, the implementation of the first of them is planned for 2018-2019.

In particular, granaries will be built near the ports of Alexandria and Damietta, where the relevant land plots have already been selected, as well as 20 barges with a displacement of 2,000 tons for the transportation of grain along the Nile.

It is noted that the Ukrainian delegation plans to visit Egypt in July to establish a subsidiary company.

As Ukrainian News Agency earlier reported, in early June, Nibulon commissioned a complex for transshipment of grain and oilseeds with a capacity of 43,000 tons and reconstructed berth in Mykolaiv.

Nibulon exported 4.65 million tons of grain and oilseeds for the 2016/2017 marketing year (July 2016 - June 2017).

Nibulon is a major producer and exporter of agricultural products and a stevedore company.