Nibulon, an Ukrainian grain trading company, plans to invest $2 billion in new grain silos and barges in Egypt’s Nile Delta region. The Project, which is in line with Egypt’s policy to maximize benefits of the river transport system, would begin in two years.

Ukrainian grain trading company Nibulon is to invest $2 billion to build new grain silos and transportation barges in Egypt’s Nile Delta region, the Egyptian supply ministry announced. The silos would be erected on two sites near the Alexandria and Damietta ports, and 20 barges would be built each with a capacity to transport 2,000 tons of grains along the river, the ministry said in a statement. The first phase of the investment, under a recent agreement, would begin in the next two years, it said, without elaborating. In line with Egypt’s policy to maximize benefits of the river transport system and activate the transport of goods via River Nile, Damietta Port received a delegation from the Nibulon between March 31 to April 6. The visit aimed to study the possibility of investing in transporting grain and establishing modern silos on the banks of the Nile. Nibulon has a good name in grain production world with more than 25 years of experience in grain related services such as storing, transporting and exporting. The company is one of the largest suppliers of Ukrainian grain to this country. In almost 10 years of cooperation with Egypt, Nibulon has exported almost 12 million tons of grain.