Arab Finance: The Cabinet has approved establishing “Feerum Egypt”, a joint-stock company formed by Egypt’s Samcrete and Poland’s Feerum, to localize the production of grain silos, according to a statement.

Sherif Farouk, Minister of Supply and Internal Trade, commented on this decision and affirmed that it represents a major strategic step towards achieving Egyptian food security and enhancing self-sufficiency in grain storage infrastructure.

Farouk noted that the project is part of an integrated system aimed at maximizing local added value and reducing the import bill, while contributing to protecting the national economy from the fluctuations of global markets.

Feerum Egypt will produce grain silo components locally to achieve up to 80% local manufacturing within three years. The company will supply silo components with a total capacity of 1.4 million tons during the same period.

Moreover, Feerum Egypt will supply the local private sector's silo needs at prevailing market prices, while exporting any surplus to regional and global markets. This move will position Egypt as a producer and exporter of grain storage technology.

The minister affirmed the state’s commitment to ensuring a 100% Egyptian workforce to build local capacity and transfer technical and technological expertise to Egyptian youth.

The project is part of the government’ comprehensive strategy to localize food processing industries and secure strategic reserves of essential commodities.

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