Egyptian state-run infrastructure firm to establish new branch in Saudi Arabia

Egypt’s Holding Co. for Roads, Bridges, and Land Transportation Projects plans to launch a company office in Saudi Arabia, according to a statement from the Ministry of Transportation on Wednesday.

Egypt’s Minister of Transportation Kamel al-Wazir emphasised that the company’s expansion plans and its interest in exploring business opportunities, particularly in African and Arab countries.

“There is a need to expand into activities other than roads and bridges, such as the establishment of concrete sleepers’ factories,” added al-Wazir in the cabinet statement.

The announcement came during the company’s general assembly meeting to review the budget of the 2023-2024 fiscal year, as according to the estimations the company is expected to realise revenues at 988 million Egyptian pounds.