ArabFinance: Middle Egypt Flour Mills Company (CEFM) is planning to build two mills at a total cost of EGP 180 million, Al Mal Newspaper reported, citing the companys Chairman Oussama Al-Sanjak as saying.

The first mill will be established in Minya governorate with a storage capacity of 30,000 tons, and the second will be set up in the governorate of Beni Suef with a capacity of 30,000 tons, al-Sanjak highlighted.

The company currently operates four mills in the governorates of Fayioum, Beni Suef, Minya, and Assiut, with storage of 120,000 tons, he said.

The establishment of the two new mills will bring the companys total storage capacity to 180,000 tons within two years, the chairman added.

It is worth noting that Middle Egypt Flour Mills posted a net profit after tax of EGP 25.96 million in the first quarter (Q1) of fiscal year (FY) 2021/2022, versus a profit of EGP 24.23 million in Q1 FY 2020/2021.

Middle Egypt Flour Mills, a member of the Holding Company for Food Industries, is engaged in the manufacture, trade, import, export, packaging, warehousing, and distribution of grains and related products.

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