Thursday May 23rd, 2024
Download SceneNow app
Copied

EGP 1.6 Billion Grain Silo Factory Will Be Built in East Port Said

The factory could benefit the Egyptian economy by increasing the country’s exports and decreasing their costly imports.

Cairo Scene

EGP 1.6 Billion Grain Silo Factory Will Be Built in East Port Said

A new agreement signed by East Port Said Development and Feerum Egypt has cemented the arrival of a EGP 1.6 billion grain storage factory in the Suez Canal Economic Zone. These developers are undertaking this project in partnership with domestic partners Samcrete Company and the Egyptian Holding Company for Silos and Storage.

The creation of the 51,950 square metre factory aligns with the Egyptian government’s broader goals of expanding the localization of certain industries. This project promises to reduce Egyptian dependency on imports while increasing the country’s exports. Feerum envisions becoming a supply centre for the grain silo industry in Africa and the Middle East, with eventual plans to expand into Europe.

×