Egypt: Nibulon to invest $2 billion in agricultural value chain
Friday, 06 July 2018 17:38
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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