Dr. Mahmoud Esmat, Minister of the Public Enterprise Sector, continued his periodic follow-up of the performance indicators of the holding and subsidiary companies, to determine the progress of work and the regularity of the productive process, the rates of implementation of modernization and development projects, and the results of the works achieved within the framework of the state’s general policy to improve the management and exploitation of assets and maximize their returns.
Dr. Esmat reviewed performance indicators and results of the Holding Company for Construction and Development, and the latest developments regarding existing and future projects, which showed the volume of contracts available and expected to be obtained during the fiscal year 2023/2024, at a value of about 35 billion pounds, within the framework of the general direction and the construction and development plan that is being implemented. Throughout the Republic in all fields, especially the sectors of infrastructure, real estate development, and building and construction to achieve the goal of a decent life for citizens.
Dr. Esmat continued the initial financial indicators included in the performance reports for the last fiscal year, as the holding company and its subsidiaries achieved activity revenues of EGP 20.5 billion, a growth rate of 12%, and net profits, an increase of 4% compared to the previous year, referring to the current position of the projects implemented by the companies. The subsidiary working in the field of contracting within the framework of contributing to the completion of the state’s national projects, including the presidential initiative to develop the Egyptian countryside, “A decent life”, and the “New Delta” project.
Dr. Esmat was briefed on the development of business in the companies’ foreign projects, where most of the contracting companies affiliated with the Holding Company were able to obtain projects outside the country in a number of Arab and African countries, which confirmed their ability to compete in various labor markets, stressing the importance of diversifying the investment portfolio of the Holding Company for Construction and Development Through the expansion of reclamation and cultivation of lands and attention to the animal side through the South Valley Development Company, increasing investments in joint companies, managing real estate assets, and providing geographic information system services.
Dr. Mahmoud Esmat confirmed that the construction sector of the Ministry has the assets, expertise and human cadres that enable it to achieve many successes in light of the development and restructuring plan that is being implemented, which reflected positively on the financial position of the companies and their financial and marketing policy, pointing to the development of a complete vision for the advancement With that system, its development and development within the framework of the state’s plan to achieve sustainable development and good asset management, as well as development projects such as the Mokattam Corniche and the New Heliopolis City, directing the subsidiary contracting companies to continue the serious and continuous endeavor to expand their scope of work and obtain more business outside the country within the framework of the general trend towards expanding the activity Real estate export.
Dr. Esmat said that there are many distinctive assets and plots of land belonging to the Holding Company for Construction and Development, and work is underway to reach the optimal vision for offering it for partnership with the private sector in cooperation with the Sovereign Fund of Egypt, explaining that there is a development plan for the South Valley Development Company to complete the cultivation of lands owned by it in Toshka and adopt An agricultural cycle based mainly on the cultivation of the wheat crop in addition to the crops of corn, soybeans and alfalfa, referring to the development of the automated slaughterhouse and the veterinary quarry and increasing the absorptive capacity for them and the addition of new industrial activities such as the leather industry and the gelatin industries and the exploitation of internal waterways by adding the activity of fish farming, and the plan includes completing Reclamation of some areas of land, cultivation of pickles, and development of the irrigation system.