Egypt’s Deputy Prime Minister Advocates for Expansion of Transportation Projects
Deputy Prime Minister Kamel Al-Wazir led a General Assembly meeting for the Holding Company for Road, Bridge, and Land Transport Projects, reviewing the financial statements for FY 2023/2024. The company reported increased revenues of EGP 589.76 million, with several successful projects highlighted. Al-Wazir called for expansion into new manufacturing and infrastructure activities, stressing the need for training and adherence to project deadlines.
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 examined and approved, revealing total revenues of approximately EGP 589.76 million, a notable increase from EGP 331.18 million in the previous fiscal year.
The Chairperson presented an overview of the company’s recent accomplishments and ongoing projects, confirming the clearance of all accumulated losses of the Nile General Company for Roads and Bridges and the Nile General Company for Desert Roads. Additionally, the Nile General Company for Construction and Roads and the Nile General Company for Roads and Bridges have shown consistent profitability over the past three years, while the Nile General Company for Desert Roads has reported profits for the last two consecutive financial years after previous losses.
Key projects highlighted include the Alternative Aswan High Dam Axis, the construction of barriers at Damietta Port, and the acquisition of factories for manufacturing concrete sleepers specifically for high-speed rail models. There has also been an investment in new equipment to improve project execution efficiency.
Minister Al-Wazir emphasized the importance of adhering to standard specifications and meeting project deadlines. He called for a broader expansion into auxiliary activities like sleeper manufacturing, along with initiatives in infrastructure projects across Africa and the Arab world. Furthermore, he underscored the need for continuous training for engineers and technicians, as well as the maintenance and modernization of existing equipment to enhance operational efficiency.
Al-Wazir urged the Chairperson of the Holding Company to prioritize regular meetings with subsidiary firms to monitor project progress, ensure compliance with contractual agreements, and address challenges promptly to prevent delays.
In summary, Deputy Prime Minister Kamel Al-Wazir has outlined an ambitious vision for the Holding Company for Road, Bridge, and Land Transport Projects. Emphasizing profitability, expansion beyond Egypt, advancements in operational efficiency, and adherence to project timelines, the meeting set a clear direction for future initiatives. Continuous training and modernization of assets were also designated as critical factors for ongoing success in the field.
Original Source: www.dailynewsegypt.com
