17:03 9 July 2024
Feerum will invest PLN 130 million in factory in Egypt
Feerum signed an investment agreement to establish a factory in Egypt for manufacturing components and spare parts for grain silos. The investment, valued at 1.6 billion EGP (about 130 million PLN), will be located in East Port Said Industrial Zone, part of the Suez Canal Economic Zone. Feerum will collaborate with East Port Said Development.
This is a significant milestone, being the largest Polish-Egyptian business project. Previously, Polish investments in Egypt focused on tourism, real estate, and trade. The investment aims to leverage lower operational costs and expand Feerum's presence in the local and regional markets of Africa and the Middle East. Feerum specializes in innovative grain storage solutions and has experience in Europe, Asia, and Africa.
