OZK Group is growing on the global market
A joint venture has been established in Egypt to ensure the supply of Russian grain.
United Grain Company (OZK), the sole infrastructure company with state participation on the Russian agricultural market, and its partner, Astra Limited, based in Cairo, Arab Republic of Egypt, have established a JV to supply the Russian grain to the Egyptian market, including to its main consumers: millers, processors, etc.
“OZK Group is the multiple winner of tenders, held by the Egyptian General Authority for Supply Commodities (GASC). Building up its presence on the Egyptian market is one of the Company's strategic development goals”, said Ksenia Bolomatova, Deputy General Director of OZK.
The new JV company will be known as Agro Nile and to be based in Egypt. OZK has entered this JV via its international trading branch Grainexport SA (Lausanne, Switzerland).
Among other possible areas of activities for Agro Nile will also be implementation of investment programs in the Russian Industrial Zone in Egypt which is being developed as part of an intergovernmental agreement between the Russian Federation and the Arab Republic of Egypt, being a part of the Russian national project "International Cooperation and Export".
Agro Nile is intended to start operations in the Q1 of 2022.
OZK Group won 17 out of 23 GASC tenders for the supply of over 1.1 million tonnes of wheat in 2021.