Cairo - Mubasher: Egyptian Company for Self-Maintenance for Roads and Airport (ECSM) will inaugurate a production factory for concrete flanges, with a total investment of EGP 350 million.

The factory aims to meet the need for Egypt's first high-speed electric train network and benefit from the company's expertise in implementing the Light Rail Transit (LRT) electric train bridge, according to a statement on Thursday.

This announcement was made during the company's ordinary and extraordinary general meeting, led by the Egyptian Minister of Transport, Kamel El-Wazir.

During the meeting, the company announced its objective to raise production to about EGP 2.5 billion, as part of its ambitious plan for 2022. 

In 2021, ECSM achieved net profits of EGP 131.63 million, up 107.4% from EGP 63.47 million in 2020.

It is noteworthy to mention that on 3 July, President Abdel Fattah El-Sisi inaugurated the Adly Mansour Central Station, the largest interchange station in the Middle East, and the first phase of the light rail transit (LRT).