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Sisi with the Head of Blumberg for 3 projects for the storage of grain and fruit

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President Abdel Fattah Sisi and Philip Blumberg

President Abdel Fattah Sisi received today, at the presidential headquarters in Heliopolis, Philip Blumberg, Chairman, Group of Companies “Blumberg”, in the presence of Dr. Khalid Al-Hanafi, Minister of Supply and Internal Trade, and David Blumberg, Managing Director of Blumberg Grain West Africa, Christian Rath, Senior Vice President of the Blumberg Grain company.

The meeting was aimed at review and discuss three major projects, including the creation of the company’s first factory for storage technology in the Middle East, which will serve the local market, and targets integration with the national project of the giant development axis at the Suez Canal, as well as providing opportunities to export to the Arab countries and African countries, where the project will the world’s largest in its field, and direct investments worth 100 million dollars.

It also included discussions on project to replace the storage barns (dirt shounas) with Blumberg’s modern and advanced technology, which are specially designed to suit the conditions of production and circulation, which is used to store grain and wheat, providing more than 30% of grain crops, ie, 1.2 million tons, which was being wasted due to the poor conditions of storage and handling, and a total cost of 1.7 billion pounds.

The third project would seek to establish a ten areas of logistics, as a first stage, for the purpose of processing, storage and preservation of agricultural products, grains, vegetables and fruits, to avoid wastage of 40% of these crops, as well as the opportunity to control prices by storing these products, and re-launched in the market to set prices and control expensiveness. Note that these three projects were under consideration at the Ministry of Supply and Internal Trade, during the past three months.

Ambassador Ihab Badawi, the spokesman for the Presidency of the Republic, said the President expressed his welcome to these projects, and looked forward to its implementation as soon as possible, and in particular the construction of advance storage barns, which needs to be implemented before the end of the harvest season (end of March / early April 2015), indicating that these projects serve the agricultural sector, and are in favor of the Egyptian simple citizen and fulfill its requirements of food, as well as the provision of employment opportunities and adjust the price, and the provision of various types of food throughout the year, and to avoid wastage of agricultural crops due to poor storage and handling.

Badaw said that these three projects will be implemented in the framework of an integrated system is also targeting Egypt’s hosting of the first commodities exchange for the Middle East, what makes Egypt a center for the trading of grain and wheat and agricultural products, along the lines of commodity exchanges existing global in both the United States and Europe.

He praised the Chairman of the Board of Blumberg’s economic decisions that have been taken in recent times, both in terms of reduction of subsidies or organization appeal procedures on state contracts, confirming that it is positive decisions and attractive for investment, and was among the immediate causes which encouraged the group Blumberg on the move forward in the implementation of such mega projects in Egypt.

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