Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel Al-Wazir, chaired the General Assembly meeting of the Holding Company for Road, Bridge, and Land Transport Projects, where the financial statements for the fiscal year 2023/2024 were reviewed and approved.
The company reported total revenues of approximately EGP 589.76m for FY 2023/2024, marking a significant increase from EGP 331.18m in FY 2022/2023.
During the meeting, the Chairperson of the company presented an overview of its activities, achievements, and major projects completed in recent years. He announced that all accumulated losses of the Nile General Company for Roads and Bridges and the Nile General Company for Desert Roads had been fully cleared. Additionally, the Nile General Company for Construction and Roads, along with the Nile General Company for Roads and Bridges, had maintained profitability over the past three years, while the Nile General Company for Desert Roads had recorded profits for the last two consecutive financial years after years of losses.
The Chairperson also highlighted key projects executed by the holding company and its subsidiaries, including the Alternative Aswan High Dam Axis, the construction of the eastern and western barriers at Damietta Port, and the acquisition of a factory for producing concrete sleepers for the high-speed rail model (RFI 260), alongside another factory for the (B70) sleeper model. The company has also invested in new equipment to accelerate project execution.
Al-Wazir emphasized the necessity of executing projects in strict adherence to standard specifications and meeting planned timelines. He called for expansion beyond road and bridge construction into auxiliary activities such as sleeper manufacturing and participation in broader infrastructure projects. He also underscored the importance of extending operations beyond Egypt, particularly in Africa and the Arab world.
The minister further stressed the need for continuous training and upskilling of engineers and technicians, as well as regular maintenance of existing equipment to ensure operational efficiency. He urged the modernization of company assets with the latest machinery and directed the Chairperson of the Holding Company to conduct regular meetings with subsidiary companies, closely monitor project implementation, enforce adherence to contractual deadlines, and proactively address any challenges to prevent delays.
