Agriculture deal to be signed between UAE’s Janan and Egypt
Tuesday, the official news agency MENA reported that a deal would be signed by a United Arab Emirates Company with Egypt, with the aim to cultivate 100,000 feddans, about 42,000 hectares (103 acres), of land with wheat, corn and feed.
The agency said that, next week, a deal would be signed by UAE agricultural investment firm Janan with Egypt's Agriculture Ministry, for the project which will expand until 2015.
It is the south west of Egypt, in the agricultural development area of East Oweinat, where the land is located; and all grain production will be for utilization within Egypt. The project is expected to generate around 350,000 tons of wheat a year all for local consumption.
Egypt which is the world's top wheat importer consumes approximately 14 million tons of wheat a year, and relies on foreign imports for approximately half of its requirements.
The most crowded Arab country with approximately 76 million people, Egypt has a cash funding system on which the poor depend, and disruptions to the program have led to sometimes aggressive protests in the history.
The agency quoted Mohammed bin Rashed, the president of Janan, explaining that the project will be executed in many phases - each phase comprising 20,000 feddans.
This year saw the call for self-sufficiency in wheat production increasing in Egypt. Since mid-May, Egypt has been stalled in a dispute over the quality of its grain imports and has ordered the re-export of around 150,000 tons of Russian, Ukrainian and Australian wheat, citing poor quality.
In East Oweinat, Janan has already invested $320 million to grow 6,000 feddans (6227 acres) with green feed, and inaugurated an animal feed plant in the area.
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