Nibulon to invest in grain storage, barges in Egypt

by Susan Reidy
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Damietta Port in Egypt
Nibulon plans to build silos near the ports of Alexandria and Damietta. Photo courtesy of Damietta Port Authority.
CAIRO, EGYPT — Nibulon, a Ukrainian grain trading company, plans to invest $2 billion in new grain silos and barges in Egypt’s Nile Delta region, Reuters reported, citing the Egyptian supply ministry.

The silos would be built at two sites near the ports of Alexandria and Damietta. Twenty barges, each with a capacity of 2,000 tonnes, would be built to transport grain along the river.

The first phase of the investment, under a recent agreement, would begin in the next two years.