Russian firm to invest in Egypt’s global logistics centre project

A Russian firm has offered to form a consortium with Egypt with the aim of investing in the global logistics centre project, Minister of Supply Khaled Hanafy said on Wednesday.

Hanafy said in a statement that a Russian holding company has offered, during a Wednesday meeting, to supply Egypt with all the equipment and machinery required for the project.

On Tuesday, President Abdel Fattah Al-Sisi issued a decision to form the executive committee to oversee the global logistics centre project, to be headed by Prime Minister Ibrahim Mehleb.

Earlier in October, the government adopted a project to establish a global logistics centre in Damietta for the handling and storage of grain and food commodities. Mehleb announced it as a national project that is of no less important than the Suez Canal expansion.