“Alexandria Containers” is considering amending the investment plan with an amount of 21.5 million pounds

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The Alexandria Container and Cargo Handling Company decided to invite its board of directors to convene tomorrow, Monday, September 27, to discuss the financial position of the last August poetry.

A memorandum on amending the company’s approved investment plan for the year 2021-2022, amounting to EGP 21.5 million, will also be discussed.

Last week, the company’s board of directors proposed distributing 77 piasters per share as part of making cash dividends to shareholders for the profits of the last fiscal year 2020-2021.

The company’s annual profits decreased by 0.3% to reach 1.41 billion pounds during the last fiscal year (2020-2021), compared to 1.49 billion pounds in net profits during the previous fiscal year.

The company’s sales declined during the last fiscal year to reach 2.4 billion pounds at the end of June, compared to total revenues of 2.58 billion pounds during the previous fiscal year.

The General Assembly of the Alexandria Container and Cargo Handling Company had approved the company’s project budget for the fiscal year 2021-2022; The company aims to handle 850 thousand containers, and achieve 2.558 billion pounds in revenues for the next fiscal year 2021-2022, and the company aims for profits of no less than 1.400 billion pounds.

The estimated draft budget, which was discussed last week at the headquarters of the Holding Company for Maritime Transport, indicated that its container capacity would reach 1.5 million containers.

The company said that it has deepened 400 meters from the berth of the Dekheila station, bringing the draft to 16 meters instead of 14 meters, and work is currently underway on the second phase of the project with a length of 350 meters, which is expected to be completed at the end of July 2022.

A statement by the company stated that it has started implementing a new container handling system TOS that achieves full automation and full integration with the port community, which helps to follow up the planning and operation of all ship operations, yards and gates at the moment of the event, and the company is currently in the stage of implementing the ERP system for all its resources. This system aims to automate the various businesses and fully integrate them with the holding company.

The estimated budget also revealed an investment plan worth 273.3 million pounds during the next fiscal year, and the investment plan is scheduled to be self-financing for the company, whether in pounds or foreign currencies, especially since the company collects its tariffs in dollars.

The company seeks to reach the highest rates of quantitative and value production and develop its competitiveness in the eastern and southern Mediterranean in light of the intense competition witnessed by the container and cargo handling sector worldwide.

The article “Alexandria Containers” discusses amending the investment plan in the amount of 21.5 million pounds, which was written in Al Borsa newspaper.