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Public Enterprises sector’s transport firms to merge under private management - Daily News Egypt

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Public Enterprises sector’s transport firms to merge under private management

Revival of Continental Hotel in Downtown Cairo and The Savoy Hotel in Luxor: Tawfik


A study is underway to merge Egypt’s three passenger transport companies, affiliated to the Public Enterprises Sector Ministry, into a single entity under a new brand, while offering its management and operation to the private sector.

It came during Minister of Public Sector Enterprises Hisham Tawfik’s meeting with the Egyptian Federation of Investors Associations (EFIA), to discuss joint cooperation opportunities and ways to increase Egyptian exports.

As part of the meeting, Tawfik offered many investment opportunities and areas of partnership in various forms with the companies affiliated with his ministry. These include agricultural and animal production projects in the Toshka region using reclaimed land covering an area of about 40,000 feddan. It also includes an automated slaughterhouse, one of the largest in Egypt, with a capacity of 45 head/ hour.

As part of the ministry’s plans to boost foreign trade, Tawfik indicated that a comprehensive restructuring process is underway for the El-Nasr Export and Import Company, which will expand into 16 trade centres worldwide. In addition, it will provide logistics services through a one-stop-shop offering the best prices.

He added that his ministry is working to provide an integrated package of transport and logistics services through its subsidiary companies operating in this field. It will be presented through the Gosoor initiative, which will be managed by an experienced and specialised international operator. 

The ministry is also developing an electronic catalogue including all Egyptian products, to enable access to new foreign markets, and encourage small- and medium-sized enterprises (SMEs) to export their products abroad.

Among the opportunities for partnership in the tourism and hotel sector, Tawfik explained that the Ministry of Public Sector Enterprises is in the process of reviving the Continental Hotel in downtown Cairo. The hotel is set to be renovated and conserved in the same architectural style in which it was built in 1870.

This is in addition to renovation work on The Savoy Hotel land owned by the Holding Company for Tourism, Hotels and Cinema (HOTAC). The land is located on the River Nile in Luxor governorate, which the ministry hopes to exploit as part of a hotel tourism project.

Tawfik added that his ministry welcomes pharmaceutical sector partnerships with the private sector in manufacturing new drugs and raw materials. This will put into effect  the Good Manufacturing Practice (GMP) compliance project at the subsidiary production company level, at an estimated cost of about EGP 1.7bn.

Tawfik said that his ministry will offer opportunities for cooperation with the private sector in industries feeding electric cars, in light of the ministry’s plans to revive the El Nasr Automotive Company. This will see the local production of electric cars in cooperation with a Chinese partner that will see 25,000 cars manufactured every year at Egypt’s first factory for this type of vehicles.

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https://dailyfeed.dailynewsegypt.com/2020/09/16/public-enterprises-sectors-transport-firms-to-merge-under-private-management/
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