Italy boosts Egypt’s grain storage capacity with EGP 369m

Egypt’s Minister of Supply and Internal Trade, Sherif Farouk, announced the completion of six field silos with a capacity of 30,000 tons, funded by the Italian-Egypt debt swap programme with an amount of EGP 369 million.

Additionally, Italy contributed EGP 47 million to fund a project for the governance, handling, and tracking of wheat from ports to silos and mills. Italian companies have also submitted new proposals for the construction of more silos.

This came during Farouk’s meeting with Michele Quaroni, Italy’s ambassador to Cairo. Farouk emphasised the strong relationship between Egypt and Italy, highlighting significant investment opportunities in various supply and trade projects, including silos, storage facilities, logistics zones, and food industries, with expectations of further cooperation.