Egypt’s Deputy PM Urges Expansion of Road and Transport Projects

Kamel Al-Wazir, Deputy Prime Minister, led the General Assembly meeting for the Holding Company for Road, Bridge, and Land Transport Projects, highlighting the company’s revenue growth and successful project completions. The company aims to expand operations beyond Egypt and emphasizes the importance of training and modernizing equipment for continued success.

Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, convened the General Assembly meeting for the Holding Company for Road, Bridge, and Land Transport Projects, during which the financial statements for the fiscal year 2023/2024 were presented and approved. The company reported total revenues of EGP 589.76 million for this fiscal year, a substantial rise from EGP 331.18 million in the preceding year.

During the assembly, the Chairperson provided a comprehensive overview of the company’s recent activities, achievements, and key projects completed. It was revealed that all outstanding losses from the Nile General Company for Roads and Bridges and the Nile General Company for Desert Roads have been fully addressed. Furthermore, certain companies within the group demonstrated consistent profitability over the last three years.

The Chairperson also highlighted significant projects undertaken, such as the Alternative Aswan High Dam Axis and construction initiatives at Damietta Port. Notably, the acquisition of a factory for producing concrete sleepers for high-speed rail models indicates a strategic expansion into manufacturing, reinforcing operational capabilities.

Minister Al-Wazir emphasized the critical nature of executing projects per established specifications and timelines. He encouraged a strategic shift towards incorporating auxiliary operations like sleeper manufacturing and expanding the company’s footprint in Africa and the Arab region.

Additionally, he underscored the importance of continuous training for engineers and technicians, along with routine maintenance of equipment to sustain operational efficiency. The Minister directed the Chairperson to maintain regular communication with subsidiary companies, ensuring proactive oversight of project execution and adherence to contractual timelines.

The recent General Assembly meeting of the Holding Company revealed significant financial growth and strategic initiatives aimed at expanding operations. Under the leadership of Kamel Al-Wazir, the company is poised for further development in road and transport projects, both domestically and internationally. The focus on training and equipment modernization suggests a commitment to operational excellence and future readiness.

Original Source: www.dailynewsegypt.com