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Monday, 2 October 2017

Blumberg Grain announces completion of Phase 1, beginning of Phase 2 of its Shouna project

Blumberg Grain announced it is moving on to the USD 150 mn second phase of its Shouna Development Project for grain storage after closing out the first phase with final payments settled. “Phase 2 is currently comprised of 300 additional new Shouna, replacing the country’s antiquated and deteriorated storage facilities, located close to Egyptian farmers, providing accessible storage, which is critical to the farmers and to reducing post-harvest losses,” Blumberg said in a statement released overnight (pdf). Blumberg Grain will enter the project as a joint venture with the Egyptian Army, and specifically the Army Engineering Authority, with a view to “fulfilling President Sisi’s vision for a state of the art food security network for Egypt’s farmers.”

When both phases are complete, Blumberg says the project “will provide badly needed infrastructure to Egyptian farmers, create new jobs in Egypt, and save Egypt over USD 551 mn annually.” As the 22-month second phase begins, Blumberg will also begin developing an industrial refrigeration manufacturing plant to serve the domestic market and allow for exports.

Separately, the Military Production Ministry has signed a cooperation protocol with the Supply Ministry to provide the latter with project implementation support, Al Mal reports. The agreement includes the Military Production Ministry supplying and providing maintenance for electronic equipment, surveillance, and machinery.

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