Cairo: Transport Minister Kamel El-Wazir announced that the 2026-2027 budget for the Holding Company for Maritime and Land Transport (HCMLT) showcases substantial progress made by the company and its subsidiaries over the past four years. The budget aims for revenues of EGP 29.922 billion and a net profit of EGP 19.589 billion, marking a pivotal step in maximizing returns on state-owned assets and enhancing transport services.According to State Information Service Egypt, El-Wazir made these comments while presiding over the HCMLT general assembly meeting, which approved the estimated budget for the fiscal year 2026-2027. The meeting reviewed programs and projects executed between 2022 and 2026, as part of an integrated plan aimed at restructuring the company. The plan focuses on improving asset efficiency, financial and operational performance, human resources development, digital transformation, and activity diversification.El-Wazir emphasized that the restructuring efforts were not merely focused on add ressing losses but on laying down efficient economic and operational foundations for subsidiaries. The initiative aims to optimize state asset utilization and ensure sustainable returns while bolstering transport fleets and employee efficiency to improve competitiveness.The minister highlighted that the company is entering a new developmental phase, building on recent achievements and continuing development plans. These efforts aim to maximize economic returns on investments and assets, upgrade transport fleets, and enhance human resources, which will strengthen the competitiveness of HCMLT and position Egypt as a regional hub for maritime transport and logistics.During the assembly, consolidated budget targets for HCMLT, its subsidiaries, and affiliated companies for 2026/2027 were reviewed. The companies aim for revenues of EGP 17.628 billion, a 12.5% increase from the expected 2025/2026 figures, and a net profit of EGP 9.763 billion, an 11.3% rise. Including targets from the Alexandria Container and Ca rgo Handling Company, total revenues and net profits are projected to reach EGP 29.922 billion and EGP 19.589 billion, respectively.At the holding company level, the budget targets revenues of EGP 6.664 billion, an 8% increase, and a net profit of EGP 5.789 billion, up 9.9%. The meeting also compared the results from 2021/2022 with preliminary results for 2025/2026, revealing substantial profit increases. The holding company's net profit surged from EGP 1.185 billion to EGP 6.595 billion, a 456.5% increase, while Damietta Container and Cargo Handling Company's net profit rose from EGP 673 million to EGP 3.285 billion, reflecting a 388% increase.