CAIRO: The General Company for Silos and Storage (GCSS) signed a 370 million EGP ($51.7 million) deal with the United Arab Emirates for building two wheat silos in Amiriya and Damietta, in the Nile Delta region north of Cairo, Mubasher reported.
Damietta’s new silo’s capacity will reach 70,000 tons annually, while Amiriya’s will reach 60,000 tons.
Building the two silos came within the UAE’s $4.9 billion aid package to Egypt for building 25 silos all over the country, Mubasher reported. The UAE pledged in October to build the silos with a total storage capacity up to 1.5 million tons to help Egypt, the world’s largest wheat importer, lower the huge cost of food imports.
Minister of Planning and International Cooperation Ashraf al-Arabi, Minister of Supply Khaled Hanafi and UAE Ambassador to Egypt Mohammed Ibn Nukhaira Al-Zahry attended the signing ceremony.
The GCSS said the two silos were built by the Arab Organization for Industrialization (AOI)—an army subsidiary—and took 18 months to build, Reuters reported.
Hanafi told Al-Masry Al-Youm Egypt is striving to boost self-sufficiency and reduce its 32 billion EGP food import bill.
He added that Egyptian consumption of wheat will reach 17.7 million tons this year, but its production of wheat this year amounted to only 8.9 million tons.