Egypt seeks to build $145.6mln wheat silos in 2024
Egypt is planning to establish six wheat silos within 2024, with investments of $145.6 million, Al Arabiya Business reported, citing sources at the Parliament.
The move aims to shore up the country’s storage capacity of wheat silos by 420,000 tons to reach a total capacity of 4.620 million tons, the sources noted.
The storage capacity of the yet-to-be-built silos will represent about 10% of the country’s current total capacity, they added.
The French Development Agency (AFD) will finance the project with $61.5 million, with the country to provide the remaining sum of $84.1 million, they highlighted.
The sources pointed out that the government is targeting to increase the storage capacity of state-owned wheat silos by at least 2.5 to 3 million tons within three to four years to reach a capacity ranging between 6.4 and 7 million tons.
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