Cimbria has cornered 100% of silo projects funded by the Saudi Fund for Development, “SFD”.
In February 2019, we managed to reactivate two silo project contracts for the account of Cimbria’s main client in Egypt, namely The Egyptian Holding Company for Silos & Storage, EHCSS, which is the main operator in Egypt for the storage of imported & locally cultivated wheat. The two reactivated silo project contracts are Abu Sowir – 30,000 tonnes – located in Ismailia Governorate along the Suez Canal, whilst the second contract is located in Al Salhia, which is a new, cultivated area in Sharkeya Governorate, as one of the main producers of local wheat in Egypt.
The two silo projects above were part of a chain of 14 x 30,000 tonne silo projects with a total funding soft loan by the Saudi Fund for Development, “SFD”, amounting to 90 million US Dollars for 420,000 tonnes of modern metal silos on a turnkey basis.
By completing the last two projects under the SFD, we can claim that Cimbria has cornered 100% of silo projects funded by SFD1&2 Soft Loans to Egypt.
By 2020, Cimbria will have successfully contributed a total of 2.5 million tonnes of modern vertical silo projects to Egypt’s infrastructure.
Cimbria corners Egyptian silo projects