The Om El Nour Group for distribution, import, export, and business allocated EGP 30m to develop its Sila Edible Oils plant, recently purchased from the National Bank of Egypt (NBE) for EGP 100m. He added that the Sila plant is the oldest in the field of oils extraction and refinement in Egypt, with a storage capacity of 10,000 tonnes. The company imports crude oil through its import and export affiliate Mydranr, but it intends to expand to importing oilseeds in order to reduce costs. Om El Nour owns flour producer Global Mills, which has a capacity of 220 tonnes per day and is located in Badr City. He pointed out that the currency difference following the liberation of the Egyptian pound’s exchange rate contributed to an increase in the production cost, which basically relies on importing production inputs.

Source: Daily News Egypt March 01, 2017 19:07 UTC