Cairo: The Deputy Prime Minister for Industrial Development, Minister of Industry and Transport, presided over the 84th meeting of the Arab Bridge Maritime Company, alongside the Jordanian Minister of Transport. Engineer Kamel El-Wazir, the Deputy Prime Minister and Minister of Industry and Transport, led the gathering, which was attended by Engineer Wissam Al-Tahmouni, Jordanian Minister of Transport, and Mr. Hazem Radi, Chairman of the Board of Directors of the Arab Bridge Company. Representing the Iraqi Minister of Transport, Engineer Razaq Al-Saadawi, along with the company's Board of Directors, they convened to review the financial results and major achievements of the company for the year 2024.
According to State Information Service Egypt, the General Manager of the Arab Bridge Maritime Company, Mr. Adnan Al-Abadla, highlighted that the company achieved unprecedented milestones in 2024, despite challenges in its operational areas. The company recorded its highest transport rate since inception, moving 79,000 trucks laden with industrial and agricultural goods between Arab Asia and Arab Africa, marking a 54% increase compared to 2023. Passenger rates on the company's ships rose by 22%, and operating profit surged by over 182%. The company also achieved record revenues exceeding $86 million, a 48% increase from the previous year.
In 2024, the company introduced three new marine units and acquired the latest cargo ships in the Red Sea, expanding its capacity to over 300 trucks daily. The new vessel, Al-Hussein, is expected to be operational by March, increasing the fleet to ten units. The company's assets reached $190 million, and shareholders' equity hit $155 million. Al-Abadla attributed the revenue surge to strategic work plans focusing on modernizing the fleet, diversifying income sources, and enhancing service levels.
Engineer Kamel El-Wazir emphasized the historical ties between Egypt, Jordan, and Iraq, and the importance of cooperation in transport sectors. The Arab Bridge Company stands as a successful model of Arab partnership, playing a crucial role in enhancing trade between Arab-Asian-African regions. El-Wazir praised the company's management for turning challenging conditions into opportunities for success, stressing the need for continuous development to diversify and increase revenues.
Engineer Wissam Al-Tahmouni, the Jordanian Minister of Transport, lauded the company's management and collaborative environment for driving historical achievements. She mentioned that future strategic partnerships and projects would bolster the company's operations, aligning with Jordan's vision to become a global transit destination. The company also facilitates the transport of humanitarian aid to Gaza.
The Iraqi Minister of Transport's representative commended the company's role in transporting exports and imports between Egypt and Iraq. He noted the potential for the company to connect Iraq's Faw Port with Dubai and Gulf ports, highlighting the Arab Bridge Company as a key player in Arab trade.
The meeting concluded with transport ministers expressing gratitude to the company's management for their contributions to Arab cooperation. The company's general assembly meetings serve as platforms to strengthen ties among Egypt, Jordan, and Iraq in various transport fields.