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Military Production Ministry signs contract with NI Capital to restructure companies incurring losses - Daily News Egypt

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Military Production Ministry signs contract with NI Capital to restructure companies incurring losses

Military Production Ministry to administrate ration system by end of January, says Al-Assar 


The Ministry of Military Production signed a contract with NI Capital to restructure the companies that have been incurring losses, according to minister Mohamed Al-Assar.

Moreover, he said that the ministry is cooperating with foreign companies to manufacture 100 locomotives, as well as 700 second-class train cars.

Al-Assar added that the ministry is also set to establish a baby formula factory.

He pointed out that throughout 2016, the ministry had increased its arms production by 225%, while achieving a growth in civilian production by up to 115%.

He added that ministry officials will soon meet with ambassadors of a number of countries to promote the arms the ministry produces.

He also noted that the ministry will sign a cooperation protocol with Al-Reef Al-Masry Company to provide the necessary equipment needed by investors for the development of the 1.5m feddans reclamation project.

Al-Assar said that the ministry is operating steadily according to a specific strategy aimed at implementing a comprehensive development of equipment and manpower, systems quality, training, and marketing in order to produce advanced military and civilian equipment, which expands the ministry’s participation in the state’s comprehensive development plans.

According Al-Assar, the ministry is involved in many national mega projects in collaboration with various ministries and authorities, such as the ministries of health, education, supply, transport, agriculture, irrigation, and the Tahya Misr Fund. Al-Assar said that the participating authorities and institutions trust the Ministry of Military Production’s commitment to international standards and delivering projects on time.

Al-Assar said that the ministry finished filtering the data of all beneficiaries of the 20 million ration cards in preparation to take over the administration of the system by the end of January, in order to deliver the subsidies to people who most need it.

Al-Assar said that the ministry has collaborated with the Ministry of Health by signing two protocols with Egyptian pharmaceutical companies to establish a self-destructive syringes factory and another factory for bird flu vaccine production.

The ministry has also partnered with the Ministry of Electricity in many projects related to solar panels production at a capacity of 1 GW, and to produce spare parts of high voltage electrical pylons and giant electricity stations. He pointed out that the ministry is seeking to establish a large factory to produce solar cells from sand at a production capacity of 1,000 MW annually to serve the domestic market and the surrounding area.

The ministry also participated with the Ministry of Education in establishing more than 3,000 new classrooms in various provinces to be delivered at the beginning of the new school year, as well as raising the efficiency and maintenance of 210 schools to eliminate the density of students in classrooms and improve the educational system.

The Ministry of Military Production is cooperating with the Ministry of Transport in developing 295 level crossings in the framework of construction and electromechanical works. The ministry also aims to develop 86 railway stations, in addition to a new 6.2-km Ring Road which will link Benha with the Cairo-Alexandria Agricultural Road. The ministry will also build another 5.5-km road linking Qaliubiya with Sharqeya.

The Ministry of Military Production also cooperated with the Ministry of Agriculture in providing “smart cards” to Egypt’s farmers through conducting an inventory of agricultural holdings and creating a geo-database of 6 million agricultural holdings in 27 governorates, at a cost of EGP 351m. The ministries also established a school feeding factory in Qena, at a total cost of EGP 8.5m.

According to Al-Assar, the ministry cooperated with the Ministry of Irrigation and Water Resources in drilling 100 wells to a total depth of approximately 750m in Minya, within the 1.5m acre reclamation project launched by President Abdel Fattah El-Sisi. The ministry will also operate 49 wells using solar power in the Toshka area.

The minister pointed out that the ministry made many contributions to various institutions such as Tahya Misr Fund in the development of 13 slum areas and 35 villages in Cairo. Al-Assar added that the ministry is currently working in cooperation with Kafr El-Sheikh governorate and the ministries of religious endowments and investment to develop 10,600 acres in the North Coast to establish an investment zone.

Al-Assar said that the main role of the Ministry of Military Production is supplying ammunition to the armed forces, as well as using its surplus production to implement service and community projects.

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https://wwww.dailynewssegypt.com/2017/01/10/military-production-ministry-signs-contract-ni-capital-restructure-companies-incurring-losses/
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