I am not sure what your application is but I can give you my expereince in the municipcal water treatment field. I have installed 3 Stanco bulk storage silos in my career. In order to size the amount of hydrated lime (calcium hydroxide) you will have to figure out how much lime you will be using on a daily basis to achieve the pH increase you are looking for. From there you will be able to determine if you need to go with bulk silo storage or a small bagged type of system. Any system that you put in will requrie some type of rotary valve upstream of the screw feed device. Without the rotary valve you can potenitally flood the system with an uncontrolled movement of hyrated lime material.
A typical arrangement is to meter the lime into a mixing tank and dilute it with a constant volume of water. One then pumps it out of the mixing tank to the application point. This is much simpler. If you can, arrange it so that instead of using a pump have the slurry overflow the mixing tank and flow by gravity to the application point. Nothing is simpler than gravity. Anybody that has worked with lime will know that there is constant maintenace required on the pump and the piping. You will get calcium carbonate depostion on the interanl walls. Eventually you have to break it off or the pipe will plug solid. Therefore use rubber hose as opposed to solid pipe. With rubber hose you can "massage" the pipe and the calcium carbonate build up on the inner walls will crack off.