MEMPHIS REISEN

Feerum Egypt invests EGP 1.6bn in new grain storage silo factory in East Port Said – Dailynewsegypt

In a significant move to bolster Egypt’s grain storage capabilities, Feerum Egypt has announced the establishment of a new factory dedicated to the design, manufacture, and construction of grain storage silos in the East Port Said region. The initiative, backed by an investment of EGP 1.6bn, was marked by a land allocation contract signing ceremony witnessed by Prime Minister Mostafa Madbouly.

The agreement, facilitating the creation of the facility, was inked between East Port Said Development and Feerum Egypt. The ceremony was attended by Walid Gamal El-Din, Chairperson of the Suez Canal Economic Zone (SCZONE), and saw the participation of Karim Sami Saad and Daniel Janusz, chairpersons of the respective companies.

Prime Minister Madbouly highlighted the project’s alignment with President Abdel Fattah El-Sisi’s directive to localize strategic industries within the SCZone. The SCZone chairman elaborated that the factory would span 51,950 square meters, aiming to enhance the region’s industrial infrastructure and support the government’s food security objectives.

Karim Sami Saad emphasized the strategic significance of East Port Said’s industrial zone, noting its potential to help Feerum achieve local and regional aspirations. Meanwhile, Daniel Janusz commended the region’s competitive edge over European costs and expressed confidence in Feerum’s partnership with the Egyptian Ministry of Supply. He underscored Feerum’s commitment to contributing to Egypt’s self-sufficiency in grain storage and food security, to source 80% of the final product locally within three to five years.

Janusz also envisioned Feerum Egypt becoming a pivotal supply hub for the grain silo industry across Africa and the Middle East, with prospects of expanding into the European market.