Arab Finance: East Port Said Development has signed a land allocation contract with the silos and storing company Feerum Egypt to establish a factory for designing, manufacturing, and constructing grain silos and their components, with investments of EGP 1.6 billion, according to a statement.
The deal aims to localize grain silo manufacturing in Egypt.
The factory is set to be established on a 51,950-square-meter area in East Port Said Industrial Zone, in partnership with the Polish Ferrum S.A., as well as Egypt’s Samcrete and the Egyptian Holding Company for Silos and Storage (EHCSS).