Former General Organization of Roads Bridges and Land Transportation. Created by Presidential Decision of October 1, 2002.
The Presidential decision sets Cairo as main office of holding & subsidiaries. The Minister of Transportation is responsible of the application of Law 203 of 1991 on public sector enterprises on the holding and its subsidiaries.
Mode of Election
Its creation, duration, objectives and capital are decided by a decision of the Minister of Transport.
The Presidential Decree included the transfer of all employees of the General Organization of Road, Bridge and transport to the new holding and affiliates.
Mode of Finance
Issued Capital of the holding 20 millions LE, from the net assets of subsidiaries. The net value shall be fixed by decision of transport Minister in accordance to art 19 of public enterprises law. The capital is completely holded by the State or to public moral entities. The Company commits to pay State share of annual profits to the Ministry of Finance. The Council of Minister can decide public offering of partial shares. The majority should always be held by the State. Workers in the company will have part of the issued shares.
(last updated: 04-November-2002)
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