An Egyptian company has sent the Russian government a feasibility study for the construction of a grain hub in Egypt that could store and process Russian grains.
The proposal was made by Egyptian Trade Minister Ahmed Samir, who told Russian news agency RIA that the hub could be built in Port Said, Damietta or Sokhna.
The goal of the proposed hub would be to provide a location in Egypt where Russian grains could be stored and processed before being exported to other markets.
This comes as Russia has faced challenges exporting its grains following the invasion of Ukraine and subsequent sanctions. An Egypt-based hub could help facilitate Russian grain exports.
The minister’s comments indicate Egypt is looking to position itself as a potential logistics and processing center for Russian agricultural products, taking advantage of its strategic location.
In summary, Egypt has proposed building a dedicated grain hub in the country that could serve as an export facility for Russian grains, highlighting the growing economic ties between the two countries.