US-based Blumberg Grain intends to build a self-financed factory and export hub to produce food storage technology and systems for MENA region, where Egypt competes for winning the project, regional chief executive David Blumberg announced on Thursday.
“There has been entertaining offers from possible locations, including Egypt.” The US executive of the a global leader in food safety and security added.
“Though the ongoing competition for our MENA Manufacturing Plant has not concluded, the contract places Egypt in a good position to gain the Manufacturing Plant and the company’s investment program of up to $250 million in processing and packaging facilities as well as high yield farming”.
Blumberg’s project will encompass an agricultural institute to train farmers in the most up-to-date techniques to raise crop yields and better secure and protect the quantity and quality of the harvest, he noted.
Speaking to Amwal Al Ghad, the US investor noted that Blumberg Grain is looking forward to inaugurating the MENA manufacturing plant within the second half of 2015.
Furthermore, David Blumberg pointed out that the selection of the country-location and ground breaking is planned for early 2015.
Meanwhile, Christian Rath, Blumberg Grain’s Head of Applied Engineering, stated; “The Blumberg Grain Manufacturing Plant would be one of the largest of its kind, with a production capacity of 1200 food storage buildings annually and the capability to manufacture food security equipment, both for the Egyptian market and for export of ‘Made in Egypt’ food storage systems throughout the Middle East.”
The MENA Manufacturing Plant will create 1000 new jobs, as well as an economic impact estimated by KPMG at US$ 1 billion in the first year, and US$ 7 billion over five years. Furthermore, the plant will increase exports and utilize local content in the manufacturing process.
Blumberg Grain is a leading global food security company, providing harvest protection systems and technology. Blumberg Grain’s fully integrated crop and food security systems can reduce post-harvest losses of grain, produce, and other perishables to 5% or less.
Blumberg Grain works with private companies and countries to modernize agricultural value chains, increase the quality and marketable output of their harvests, enable efficient market timing, and significantly boost exports of agriculture products.