The Holding Company for Road, Bridge and Land Transportation Projects meeting. Photo courtesy of Ministry of Transport
During this General Assembly meeting, the Holding Company's President Adel Turk disclosed the company's budget plan for the fiscal year 2023/2024, projecting revenues of approximately EGP 988 million.
Turk highlighted the recent acquisition by the Ministry of Transport of two new factories for the production of concrete flanges in Egypt, needed for the high-speed train (RFI 260), in addition to other equipment worth EGP 300 million.
The meeting revealed that the value of projects completed by the Holding Company, its subsidiary entities, and outsourcing agencies during the last fiscal year, ending on 6/30/2022, exceeded EGP 10.6 billion.
Turk also highlighted the company's asphalt pavement recycling initiative, which serves the dual purpose of reducing environmental pollution and increasing the efficiency of local roads.
For his part, Minister of Transport Kamel El-Wazir hailed the newly established flange factories as a model to emulate in the development of Egypt's transportation network and industry.
El-Wazir stressed the necessity of expanding the company beyond Egypt's borders, with a specific emphasis on opportunities in Africa and other Arab nations.
Short link: