General for Silos to set new company
Updated 11/27/2022 11:50:51 AM
Arab Finance: General Company for Silos and Storage (GSSC) will sign an agreement to establish a company specialized in the construction and management of silos and storages, according to a statement issued on November 27th.
The new company will be set up with EGP 500 million in authorized capital and EGP 50 million in issued and paid-up capital.
Egyptian Holding for Silos and Storage will own 45% of the new company, while the Agricultural Bank of Egypt (ABE) will hold a stake of 40% and General Company for Silos and Storage’s ownership will amount to 15%.
GCSS is an Egypt-based company that operates in the food processing industry sector, particularly in the manufacture, trade, import, export, storage, package, and distribution of different types of grain and its derivatives, foodstuff, and yeast, as well as animal feed and its components.
