Egypt’s Deputy PM Kamel Al-Wazir led the General Assembly meeting for the Holding Company for Road, Bridge, and Land Transport Projects, which reported increased revenues for the 2023/2024 fiscal year. Key projects and profitability improvements were highlighted, alongside a push for expansion into auxiliary sectors and international markets. Al-Wazir emphasized training and equipment modernization to ensure timely project execution.
Kamel Al-Wazir, Egypt’s Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, presided over the General Assembly meeting of the Holding Company for Road, Bridge, and Land Transport Projects. The assembly reviewed and approved the financial statements for the fiscal year 2023/2024, which revealed total revenues of approximately EGP 589.76 million, a significant rise from EGP 331.18 million in the previous fiscal year.
During the meeting, the Chairperson of the company presented an overview of recent activities and achievements. Notably, the Nile General Company for Roads and Bridges and the Nile General Company for Desert Roads reported clearing all accumulated losses. Furthermore, profitability has been sustained by these companies over the past three years, alongside consecutive profits recorded by the Nile General Company for Desert Roads over the last two years.
The holding company and its subsidiaries have executed vital projects, including the Alternative Aswan High Dam Axis and the construction of the barriers at Damietta Port. Additionally, a new factory for producing concrete sleepers for high-speed rail models has been acquired, with ongoing investments in equipment to enhance project execution efficiency.
Minister Al-Wazir stressed the importance of adhering to standard specifications and timelines in project execution. He advocated for an expansion of operations into auxiliary activities, such as sleeper manufacturing, and encouraged ventures into infrastructure projects beyond Egypt’s borders. He particularly highlighted opportunities within Africa and the Arab region.
Furthermore, Al-Wazir emphasized continuous training and upskilling for engineers and technicians while advocating for regular maintenance of equipment. He called for asset modernization and instructed the Chairperson to hold regular meetings with subsidiary companies, monitor project implementation closely, and address challenges proactively to avoid delays.
The General Assembly meeting of the Holding Company for Road, Bridge, and Land Transport Projects reviewed significant financial growth, with increased revenues and improved profitability among its companies. Minister Al-Wazir’s call for expanding operations into auxiliary activities and international markets showcases a proactive approach towards enhancing Egypt’s infrastructure capabilities. Continuous training and equipment modernization are prioritized to ensure efficient project execution.
Original Source: www.dailynewsegypt.com
