CAIRO (Reuters) – Egypt and the United Arab Emirates said yesterday they had contracted a state-run company headed by a retired Egyptian army officer to build wheat silos that are a key part of the UAE’s $4.9 billion aid package to Cairo.
The choice of an army-affiliated company comes after Reuters reported in March that the UAE was working directly with the Egyptian army to ensure the project was conducted efficiently.
The UAE is taking a hands-on role in supporting Egypt and is funding a range of development projects that could help the world’s biggest wheat importer lower its huge food import bill.
It committed last October to build 25 silos with a storage capacity of 1.5 million tonnes to help prevent the loss of billions of dollars worth of wheat every year.
Along with Saudi Arabia and Kuwait, the UAE pledged more than $12 billion in loans and donations after former army chief Abdel Fattah al-Sisi ousted Islamist President Mohamed Mursi last July following mass protests against his rule.