Bulgaria seeks investments in Egypt's logistic grain hub

Bulgaria expressed on Wednesday willingness to invest in the 13.1-billion-pound logistic hub for grains Egypt plans to set up in Dameitta.

The remarks were made during a meeting between Bulgarian Ambassador here Rumen Petrov and Supply and Internal Trade Minister Khaled Henfi.

Egypt's project involves building high-tech storage silos, two new platforms capable of receiving large cargoes in the Damietta marine port and five manufacturing areas.

The project, which will be built on 3,350 square kilometers in Damietta, is expected to trade up to 65 million tons annually of grain and basic food commodities.

The ambassador said his country seeks to use the hub to export about 4 million tons of Bulgarian wheat to African states annually.