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Egypt: Nibulon to invest $2 billion in agricultural value chain

Friday, 06 July 2018 17:38

(Ecofin Agency) - Ukrainian grain trader Nibulon announced it will invest $2 billion in Egypt to develop seeds’ storage and conservation infrastructure.

“This is a long-term investment program […] it is designed for 7-10 years,”, said CEO Oleksiy Vadaturskyy in an announcement.  A first tranche of $200 million will be invested between 2018 and 2019. Moreover, a local subsidiary will be set under Egypt’s legal regulations.

The project should further increase the share of foreign direct investment on new projects in Egypt. According to a recent FDI Intelligence report, the country of the Pharaohs received nearly $111.5 billion in FDI on new projects between 2012 and 2017.

Idriss Linge





 
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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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