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Construction of two wheat silos commences in Egypt [Emirates News Agency (WAM) (United Arab Emirates)](Emirates News Agency (WAM) (United Arab Emirates) Via Acquire Media NewsEdge) CAIRO, 7th June, 2014 (WAM)--Dr. Sultan bin Ahmed Sultan Al Jaber, Minister of State, Head of the Coordination Office for UAE Projects in Egypt, today witnessed the signing ceremony of agreement between the Arab Organisation for Industrialisation, the state-owned company and the General Company for Silos and Storage, to build two wheat silos in Egypt. The first silo will be constructed in Damietta city at the storage capacity of 60, 000 tonnes, while the second will be built at Amiriya district in Alexandria at the storage capacity of 70 tonnes. The signing ceremony was attended by Egypt's Supply and Internal Trade Minister, Dr. Khaled Hanafi, Egypt's Planning and International Cooperation Minister, Dr. Ashraf El Arabi and UAE Ambassador to Egypt, Mohammed bin Nakhaira Al Dhaheri. The construction of the two silos is part of the UAE's project to build wheat silos in 17 provinces in Egypt with a storage capacity of 1.5 million tonnes to help prevent the loss of billions of dollars worth of wheat per year. The work at other silos will start by next November. Commenting on the occasion, Dr. Al Jaber said that the UAE focuses on the projects that would achieve sustainable socio-economic development, noting that the construction of silos would ensure food security through increasing the wheat storage capacity by one quarter of total requirement. He added that it would boost the economy through reduction of the wheat import with hard currency. For his part, Dr. Hanafi said the project would curb by 10 per cent worth $430 million, the loss and wastage cause by the traditional storage system, noting that project would reduce dependence on the import of wheat from abroad. It would, he continued, give the Egyptian government a price flexibility when importing the wheat. (c) 2014 Emirates News Agency (WAM) Provided by SyndiGate Media Inc. (Syndigate.info). |