Deputy Prime Minister Kamel Al-Wazir discussed the Holding Company’s financial growth, reporting increased revenues. He highlighted project successes and emphasized the need for operational expansion beyond Egyptian borders. Training and equipment modernization were stressed as crucial for ongoing progress.
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. During this meeting, the financial statements for the fiscal year 2023/2024 were reviewed, revealing total revenues of EGP 589.76 million, a notable increase from EGP 331.18 million in the previous fiscal year.
The Chairperson provided an overview of the company’s recent activities, highlighting significant achievements and project completions. He announced that all previous losses of the Nile General Company for Roads and Bridges and the Nile General Company for Desert Roads have been resolved. Furthermore, both the Nile General Company for Construction and Roads and the Nile General Company for Roads and Bridges have consistently been profitable for the past three years, while the Nile General Company for Desert Roads achieved profitability in the last two years after a period of losses.
Notable projects discussed included the Alternative Aswan High Dam Axis and the construction of barriers at Damietta Port. Additionally, the acquisition of factories for manufacturing concrete sleepers for high-speed rail models was mentioned, aimed at boosting project execution capabilities. Al-Wazir emphasized the importance of adhering to standard specifications and completing projects on schedule, advocating for the expansion of services to embrace auxiliary sectors like sleeper manufacturing.
Al-Wazir further stressed the necessity of extending operational efforts beyond Egypt, particularly targeting the African and Arab regions. He acknowledged the importance of ongoing training and upskilling for engineers and technicians, alongside rigorous maintenance of current equipment. The need for modernization of assets with contemporary machinery was highlighted, along with directives for the Chairperson to ensure effective project oversight and the timely resolution of challenges.
In summary, Kamel Al-Wazir’s leadership highlights a robust growth strategy for Egypt’s transport infrastructure, with significant revenue growth and operational improvements. The focus on profitability, project adherence, and expansion into regional markets demonstrates a commitment to enhancing the capabilities and efficiency of the road and transport sector. Continuous training and modernization efforts will further strengthen these endeavors.
Original Source: www.dailynewsegypt.com
