Egyptian government to establish firm for manufacturing silos

CAIRO – 16 July 2024: Minister of Supply and Internal Trade Sherif Farouk announced Tuesday the foundation of a public company for manufacturing silos in tandem with setting a plan to connect them with railways and inland ports in collaboration with the Ministry of Transport.

The ministry owns 83 silos – including five located in seaports - for storing wheat used in baking subsidized bread, and that were established in partnership with American, Danish and French firms. The step taken would help save foreign currency as, also, the private sector hires French, Turkish and Spanish companies to build silos.

It is noted that the Egyptian government owned just 32 silos in 2014. Given the size of the Egyptian population - exceeding 110 million – it is a must to maintain safe levels of strategic goods, such as wheat, by securing proper storage facilities among other measures.