Egypt's Cabinet on Wednesday approved the establishment of Feerum Egypt, a joint venture between Samcrete Egypt and Poland's Feerum S.A., to localise the manufacturing of grain storage silos in partnership with the government and private sector. The new company will produce silo components domestically, targeting 80 per cent local manufacturing within three years, the ministry of supply said in a statement. Feerum Egypt will also supply components for silos with a total capacity of 1.4 million tons over the same period, with payments made in local currency and fixed prices throughout the supply duration. The project will rely entirely on an Egyptian workforce, part of efforts to strengthen local industrial capacity and transfer technical expertise to young workers, the ministry added. Feerum Egypt will also supply silo equipment to the domestic private sector at market prices and export any surplus to regional and international markets, positioning Egypt as a producer and exporter of grain storage technology. Attribution: Attribution: Amwal Al Ghad English Subediting: Y.Yasser
