Success with PAIH – the first Polish production investment in Egypt
The Polish company Feerum has signed an investment agreement for the creation of a factory to produce components and spare parts for the construction and operation of grain silos in Egypt. The ceremony was attended by the Prime Minister of the Arab Republic of Egypt, Mostafa Madbouly, and the President of the Suez Canal Economic Zone, Walid Gamal El Din. PAIH’s Foreign Trade Office in Cairo supported the company in the process of entering the Egyptian market.
The plant’s planned location is the East Port Said Industrial Zone, which is part of the Suez Canal Economic Zone. The Polish company is to cooperate with its Egyptian partner, East Port Said Development, in the construction of the plant. The value of the investment was estimated at EGP 1.6 billion (approx. PLN 130 million).
Feerum is a world leader in the production of innovative and comprehensive solutions for grain storage, from silos, through treatment plants and dryers, to transport. The company has extensive experience in the implementation of projects in Europe, Asia and Africa, which it indicates as one of the most promising directions for its business development.
Feerum took its first steps on the Egyptian market with PAIH’s support. In 2022, representatives of the Polish company participated in the Sahara Expo agricultural fair. On the stand organized by PAIH’s Foreign Trade Office in Cairo, they had the opportunity to establish their first contacts and see the potential of the market.
We are extremely proud that a Polish company is developing internationally with PAIH’s support. In many areas Egypt is a very promising direction of expansion for Polish companies. The contract signed by Feerum is a perfect example that this can be done successfully on a large scale. We encourage companies to contact us – says Ayman Farouk from PAIH’s Foreign Trade Office in Cairo.
Feerum’s planned investment is the first project of such a scale in the history of business cooperation between Poland and Egypt. Over 100 companies with Polish capital have already been established in the country on the Nile, but so far almost exclusively in the areas of tourism, real estate rental and trade. So far, an example of the most developed activity of Polish companies in Egypt is Geofizyka Toruń S.A., a company belonging to the Orlen Group, which has been operating in this country since 2009, performing seismic surveys for the purposes of oil and natural gas exploration. However, in the case of Feerum, this is the first Polish private production investment and in addition, an investment worth approx. PLN 130 million.
As the main incentive to invest in this location, Feerum representatives indicated more favorable operating costs. Thanks to the investment in Egypt, the Polish company hopes to implement grain silo installation projects on the local market, as well as the surrounding markets in Africa and the Middle East.
Egypt is a promising direction for Polish economic relations. With a growing population of over 110 million, it is the most populous country in the Middle East. It is also the largest economy in North Africa with good GDP growth prospects. Egypt is located at the intersection of trade routes and has a developed infrastructure. The State supports the inflow of foreign investments through, among other things, economic and duty-free zones. The potential for trade and investment exchange applies primarily to the agri-food, construction and technology sectors.
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