The Egyptian government's Holding Company for Metallurgical Industries recently held its general assembly meeting, chaired by Deputy Prime Minister for Economic Affairs Dr. Hussein Issa. The meeting saw the approval of the company's budget for the 2026-2027 financial year. The budget outlines a comprehensive strategy aimed at maximizing the utilization of the company's diverse industrial portfolio. This portfolio encompasses various strategic industries and activities.
Dr. Hussein Issa emphasized the significance of the company's industrial portfolio, which comprises renowned industrial brands, production facilities, and substantial technical expertise accumulated over decades. He highlighted the company's crucial role in supporting national industry, deepening local manufacturing, increasing added value, and enhancing the competitiveness of Egyptian products in both domestic and international markets.
The approved budget for the 2026-2027 financial year targets total revenues of approximately 78.3 billion EGP, representing a growth rate of around 28% compared to the actual revenues achieved in the 2024-2025 financial year. The budget also aims to achieve exports worth 788 million USD, equivalent to about 37.8 billion EGP, and a net profit of 18 billion EGP. This represents a growth rate of nearly 19% compared to the 2024-2025 financial year.
The company's investment budget for the 2026-2027 financial year is set at 11.7 billion EGP. This investment will be directed towards various projects, including new initiatives, replacement and modernization projects, digital transformation, and the implementation of an Enterprise Resource Planning (ERP) system. Additionally, investments will be allocated to projects focused on occupational safety and health, environmental sustainability, and other areas of development and efficiency enhancement.
During the meeting, the company's management reviewed the progress of several priority projects and files. These include the allocation of 4.7 billion EGP for sustainability and environmental projects. The company aims to develop its operations in line with sustainability requirements and environmental protection. The meeting also discussed the implementation status of the ERP system, which supports digital transformation efforts and data integration.
The assembly also examined global market trends in various industries where the company's subsidiaries operate. These industries include aluminum, steel, vehicles, glass, phosphate, and others. Understanding these market trends will enable the company to identify growth and expansion opportunities and guide investments in line with market needs and global demand.
Key projects currently underway or planned by the company's subsidiaries were also presented. These projects include the development of Egypt's aluminum production facilities and the establishment of new production lines. Notable projects involve the production of electric buses and mini-buses, as well as the development of phosphate concentration projects. These initiatives aim to maximize the added value of mineral resources and increase the efficiency of resource utilization.
Key points
- The Holding Company for Metallurgical Industries has approved a budget of 78.3 billion EGP for the 2026-2027 financial year.
