Egypt planning to create a grain exchange with the help of CME
2014-09-04 12:23:49
Egypt is planning to make use of the rich experience of the Chicago Mercantile Exchange (CME) and create the first large grain exchange in the Near East.
Khaled Hanafy, the Egyptian Minister of Supply, said that representatives of Egypt’s authorities and Arab Contractors Company have already begun talks with the CME head and board members. Technical cooperation and support to the exchange creation project will be considered there.
Contracts to an amount of EGP 3.206 Bl were already signed last weekend for the creation of three major projects (storage, processing, transportation of grain and other agricultural raw materials). The contracts were signed with Bloomberg L.P. Company.