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Egypt’s M.O.T revenues reaches EGP 1.69bn in 2024

Businessmen Team news 06 May 2025 04:01 PM
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Egypt’s M.O.T revenues reaches EGP 1.69bn in 2024

Lieutenant General Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, chaired the General Assembly of M.O.T Investment and Development, the investment arm of the Ministry of Transport, for the fiscal year 2024.

During the meeting, the company's business results were reviewed. Total operating revenues reached EGP 1.69 billion, an increase of EGP 275 million compared to EGP 1.415 billion in 2023, reflecting a significant improvement in the company's performance. The company's most notable achievements during 2024 were reviewed, such as the project to construct and implement the Upper Egypt train station in the Bashtil area of ​​Giza Governorate, which was inaugurated in the presence of President Abdel Fattah El-Sisi in October 2024. The implementation status of several investment projects was also reviewed, such as the "Tahya Misr Mansoura" project located within the Happy Land project in Mansoura, the Diamond Tower project, and investment projects nationwide.

Al-Wazir and members of the General Assembly also reviewed the results of partnerships with various entities, such as the General Authority for Roads and Bridges, the National Authority for Tunnels, and the Red Sea Ports Authority.

He emphasized the need to continue optimal investment utilization of the lands of the entities and agencies affiliated with the Ministry of Transport and to maximize cooperation with the private sector, as part of efforts to enhance the private sector's role in implementing various projects.

Al-Wazir also directed the Board of Directors and the Executive Management to work together to continue advancing the company and implementing its strategic plan. He stressed the importance of utilizing the company's human resources and transferring the expertise of Board members to its employees, achieving integration and contributing to the achievement of the company's ambitious goals. He also stressed the need to implement all measures and mechanisms that will significantly increase revenues each year compared to the previous year.