Tuesday, 30 November 2021 07:24 GMT

Nibulon eyes USD2bn investment program launch in Egypt


(MENAFN) Ukraine's top grain trader Nibulon was unveiled to be targeting the launch of the long-term investment program in Egypt, at a value of USD2 billion.

Nibulon CEO Oleksiy Vadatursky stated "this is a long-term investment program that provides for a total investment of $2 billion and is designed for 7-10 years."

The first phase of the program was explained by the company to be investing USD200 million this year and the next.

The execution of the project provides for the opening of an enterprise of Nibulon in Egypt and is set to be operative in line with the Egyptian legislation.

In its report, the company said "this year it is planned to start construction of two transshipment terminals in Zaporizhia and Dnipropetrovsk regions."

It added "in addition, the capacity of the company's transshipment terminal in Kremenchuk (Poltava region) is increasing, and the investment program in the shipbuilding industry (building of a freight fleet) is being implemented, and Nibulon shipyard in Mykolaiv is being reconstructed."

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