Strained Saudi-Egypt relations hinder Supply Ministry plans to expand wheat storage capacity

Strained relations with Riyadh have sent the Supply Ministry looking for alternative sources of funding for upgrades to its wheat storage capacities ahead of harvest season in April, Al Borsa reported. The Saudi Fund for Development had pledged USD 500 mn to cover 60% of the project’s costs and was meant to help finance an additional three silos after, but “the tension in Egyptian-Saudi relations after the Tiran and Sanafir case has halted the project,” a ministry official said.