In Egypt, the government approved the creation of the Feerum Egypt company, in order to localize the production of silos for storage of grains in the country. The announcement was made in a statement published on the website of the Ministry of Supply and Foreign Trade.

The new company will locally produce components of silos, with the aim of reaching 80% of local production within three years, the Ministry of Procurement said in a statement. Feerum Egypt will also supply components for silos with a total capacity of 1.4 million tonnes over the same period, with payments being made in local currency at fixed prices throughout the duration of the supply.

The project will rely entirely on a workforce Egyptian, as part of efforts to strengthen local industrial capacities and to transfer technical expertise to young workers, the ministry added.

Feerum Egypt will also provide equipment from silo to the domestic private sector at market prices and will export any surplus to regional and international markets, thus positioning Egypt as producer and exporter of grain storage technology.