Russia creates JV to supply grain to Egypt
United Grain Co (UGC) in Russia has set up a joint venture with Egypt’s Astra Ltd. to supply Russian grain to the Egyptian market.
UGC, also known as OZK, founded the JV through its Switzerland-based trading branch Grainexport SA.
The new JV will be named Agro Nile and will start operations in the first quarter of 2022.
UGC has nine grain storage silos and collecting stations with a total capacity of 720,000 tonnes. It also has three processing plants with annual capacity of 490,000 tonnes.
Its two port terminals in Novorossiysk and Kaliningrad have annual transshipment capacity of 7.8 million tonnes of grain.
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