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FINANCIAL NEWS
UAE to build wheat silos in Egypt
08 Jun 2014
(MENAFN) As part of a UAE’s USD4.9 billion aid package to Cairo, the UAE plans to build wheat silos in Egypt headed by a retired Egyptian army officer, according to Gulf Daily News.
The UAE supports Egypt and is funding a range of development projects including the wheat silo-building effort, which is expected to lower the UAE’s huge food import bill.
A cooperation agreement has already signed between the UAE and Egypt by the UAE Minister of State Sultan Ahmed Al Jaber and Egypt’s Supplies Minister Khaled Hanafi and Planning Minister Ashraf El Araby.
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