Cairo – Mubasher: Egypt’s Ministry of Investment and International Cooperation signed a $14 million agreement with the OPEC Fund for International Development (OFID) to set up two wheat silos in the seaport of West Port Said, according to a statement.
The project targets to raise the storage capacity of Egyptian ports by about 15% in a bid to lower the burden on Damietta and Alexandria ports and cut the time spent on transferring wheat from the ports to silos across the North African nation’s governorates, minister of supply and trade Ali El-Meselhy said.
OFID’s portfolio in Egypt reached EGP 750 million, the intergovernmental development finance institution’s director general Abdulhamid Al Khalifa revealed.
