Italy, Egypt to sign 10 horizontal silos agreement tomorrow

Supply ministry is to sign  an agreement with Italy to build 10 horizontal silos for wheat storage in Egypt tomorrow, chairman of the Egyptian Holding Company for Silos and Storage (EHCSS) Mahmoud Abdel Hamid said Tuesday.

Speaking to Amwal Al Gahd, Abdel Hamid stated that the ten silos are to be established at capacity of 500.000 tonnes annually and cost of US$17 million.

He added that the silos -set to be finished within two years- are part of the first phase in the debt swap programme signed between Egypt and Italy, at value of US$45 million.

The ministry has agreed with the Italian side to execute the second phase by establishing two logistics zones to store grains, vegetables and fruits with cost estimated at US$28 million, the rest value of debt swap programme said Abdel Hamid.

The official said that the feasibility studies concerning the two logistics zones in Safaga- Red Sea and KawmAbou Radi- Beni Suef has been completed.

Abdel Hamid further stated that the project will help to store and provide grains, vegetables, and fruits with affordable prices in Upper Egypt throughout the year.