Government Aims To Maximize State-Run Irrigation, Drainage Firms: Sweilem

(MENAFN- Daily News Egypt) Hani Sweilem, Minister of Water Resources and Irrigation, held a meeting to review the progress of the performance improvement process at the Holding Company for Irrigation and Drainage and its two subsidiaries, the Egyptian Company for Irrigation and Drainage and the Egyptian Dredging Company.

Sweilem emphasized the importance of fully utilizing the capabilities of the Holding Company for Irrigation and Drainage and its subsidiaries to enhance the company's participation in project execution both within and outside Egypt. This includes competing in various tenders by studying local and international market needs and optimizing the company's resources, whether in human talent or equipment. He also stressed the need to continue improving the efficiency and maintenance of equipment while enhancing the skills and training of the company's workforce.

The minister directed further efforts to improve the company's financial standing in the coming period and to leverage its assets for maximum investment returns. He also stressed the importance of completing projects according to the established timelines.

The meeting was attended by Khaled Wasif, Assistant Minister for Companies and Investment; Alaa Khaled, Non-Executive Chairperson of the Holding Company for Irrigation and Drainage; and Mahmoud Ghalloush, the company's Executive Managing Director.

The board of the Holding Company for Irrigation and Drainage was restructured a year ago, and the new board now oversees the merged company. Following the merger, two subsidiaries remained: the Egyptian Company for Irrigation and Drainage, headquartered in Assiut, and the Egyptian Dredging Company, based in Cairo.

The new board has paid off the company's debts worth EGP 87m and secured new projects valued at EGP 600m.

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