Speaking of wheat, our friends at Blumberg Grain delivered 105 silos to the Supply Ministry as part of the first phase of its latest shouna project, said Supply Minister Ali El Moselhy, according to Al Masry Al Youm. “Our need for wheat silos is very high and the current storage rates do not correspond to the wheat supply season, where the quantities are high,” he noted. He said that the Agricultural Research Center, the Engineering Authority of the Armed Forces and the Ministry of Military Production are currently looking into solutions for storage. The ministry had announced earlier this year that private sector storage facilities would be used in places where the government’s capacities have been maxed out. Blumberg Grain had completed the first phase of its first shouna project ahead of the 2016 wheat harvest, but the facilities had not come online due to delayed implementation by the Supply Ministry. The issue blew up at the height of the wheat corruption scandal that toppled former Supply Minister Khaled Hanafi. A dispute with the company over payment for the 93 shounas delivered had risen, with Blumberg submitting an official request in May to settle the issue.
More from Enterprise
Banque du Caire’s blockbuster IPO holds firm against EGX selloff
The IFC and the EBRD are in for USD 100…
Electricity Ministry studies changing how your electricity bill gets calculated
The plan is still under study, and neither of the…
Africa’s corporate debt market is just 0.3% of the world’s, with Egypt’s share more than halved since 2010
The OECD puts Africa’s market-based corporate debt at USD 211…
DPI closes Egypt-born fintech fund Nclude at USD 112 mn
The final close adds roughly USD 7 mn to a…