Feerum Egypt to Invest $33 Million in Grain Silo Factory

Feerum Egypt has announced it will build a new factory dedicated to the design, manufacture, and construction of grain storage silos in the East Port Said region of Egypt.

Egypt’s East Port Said Development and Feerum Egypt signed an agreement to allocate land for the establishment in East Port Said with investments valued at LE 1.6 billion, according to a cabinet statement.

According to the agreement, Feerum Egypt will establish a factory in the industrial zone in East Port Said, covering an area of 51,950 square meters.

Feerum Egypt will collaborate with Egyptian domestic partners, Samcrete Company and the Egyptian Holding Company for Silos and Storage.

The contract aligns with President Abdel Fattah El-Sisi's comprehensive plan to expand the localization of strategic industries, particularly within the Suez Canal Economic Zone, according to the Prime Minister. The goal is to deepen the manufacturing of grain silos and their components, reduce dependency on imports, and promote exports.

Feerum aims to achieve an 80% local component in its final product within the next 3 to 5 years and envisions becoming a supply center for the grain silo industry in Africa and the Middle East, with potential future expansion to serve Europe.