{"id":653634,"date":"2024-10-20T00:00:00","date_gmt":"2024-10-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/polands-feerum-allegedly-pulls-out-of-grain-silo-factory-project\/"},"modified":"2024-10-20T00:00:00","modified_gmt":"2024-10-20T00:00:00","slug":"polands-feerum-allegedly-pulls-out-of-grain-silo-factory-project","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/20\/polands-feerum-allegedly-pulls-out-of-grain-silo-factory-project\/","title":{"rendered":"Poland\u2019s Feerum allegedly pulls out of grain silo factory project"},"content":{"rendered":"

Good afternoon everyone<\/strong>, and a warm welcome to the start of the workweek.<\/p>\n

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THE BIG STORY TODAY-<\/p>\n

It looks like Port Said\u2019s EGP 1.6 bn grain silo factory project has lost its foreign partner: <\/strong>The Egyptian arm of Polish grain silo company <\/a>Feerum<\/a> will pull out of its agreement to set up a factory to manufacture grain silos with with Egyptian construction and engineering firm Samcrete and the state-owned Egyptian Holding Company for Silos and Storage, an anonymous Feerum Egypt official told Al Mal<\/a>.<\/p>\n

The why: <\/strong>The company official reportedly pointed to the refraction of its first order for a silo in the domestic market by the Supply Ministry \u2014 which hampered the project\u2019s negotiations with local banks to finance the project \u2014 among other undisclosed reasons.<\/p>\n

Remember: <\/strong>For years, the state has been working to boost its wheat storage capacity, building more silos and taking out loans<\/a> to invest in silo development, all with the aim of ensuring none of our local harvest goes to waste due to lack of sufficient silo capacity and increasing wheat reserves. The Supply Ministry has a plan<\/a> to increase the country\u2019s silo capacity to 5.3 mn tons from its current 2.1 mn tons and cut down on the percentage of wheat that is wasted in the harvest and storage process.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

The killing of Yahya Al Sinwar hasn\u2019t deterred Israel\u2019s attack on Gaza, with strikes<\/strong> against Lebanon intensifying.<\/strong> Southern Beirut was one target of the Israeli military\u2019s strikes on Saturday, as was a residential building in the Palestinian town of Beit Lahiya, where at least 87 people were killed. Despite hopes in some diplomatic circles that the killing of Sinwar could open up the possibility of Israel's openness to a ceasefire agreement, Netanyahu has reiterated to Israeli media that the war on Gaza and Lebanon will continue. (Reuters<\/a> | CNN<\/a>) <\/p>\n

In the realm of business, nuclear energy stocks have seen a major upswing in the wake <\/strong>of AI demand. <\/strong>Last week saw AI frontrunners like Amazon, Google, and Microsoft follow OpenAI\u2019s steps in looking to nuclear energy to power their AI data centers. After landmark deals penned by Amazon and Google, shares in nuclear energy companies in the US have risen by 37-99%. (Financial Times<\/a>)<\/p>\n

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