Egypt’s Supply To Establish 25 New Silos With EGP 2 bln

Major General Mohamed Abou Shady, Minister of Supply and Internal Trade, has revealed that the ministry will launch the second phase of the National Project for Silos by establishing 7 new silos from the total of 25, which are scheduled to be established in this phase with EGP2 billion.

He pointed out that two silos will be inaugurated in the coming week in Kafr El Sheikh and Marsa Matrouh governorates to complete the first phase of the project, which targets 23 silos.

He has asserted that the ministry has allocated EGP2 billion to implement the phase II of the new silos during the rest of the current year and the first quarter of 2014.

Abou Shady has explained in a statement to “Amwal Al Ghad” that the ministry is negotiating with Emirati officials in order to encourage them to increase the financing side of UAE of the number of silos, which are scheduled to be established with a number of 10 silos, stressing that the total cost of silos has not been determined yet.