The UAE's Al Swaidan Trading Co. will be contributing to a project to establish a logistics center in Damietta.
Supply Minister Khaled Hanafi and Al Swaidan signed the deal Saturday under which the UAE group will put some two billion dollars into the grain storage center.
Speaking to MENA on the sidelines of the inking ceremony, Hanafi said that Beltone Financial has succeeded in luring investors to contribute to the project.
Al Swaidan Co. will also pump four billion dollars into a project to establish a trade and shopping city, the minister added.
Al Ghurair, another UAE group, has offered to implement about one third of the logistics center project, which is estimated to cost a total of 15 billion pounds, Hanafi said.
The agreement is being outlined with the UAE group in cooperation with Beltone Financial that is promoting the project, he added.