NOSCO targets business worth EGP 200m in 2017

The National Transport & Overseas Services Company (NOSCO) aims to conclude business worth EGP 200m in the current year and compete on electricity distribution projects by the end of the year.

The general manager of the company, Mohamed Nadeem Mazen, said that the company realised sales of EGP 200m last year and plans to maintain the same rate this year.

He told Al Borsa in an interview that the company also plans to increase its capital to EGP 100m in the coming five years, up from a current capital of EGP 40m.

Mazen pointed out that listing the company on the Egyptian Exchange is one of the most important possibilities in the coming period.

The company plans to expand into new activities, such as storage, he explained, adding that the company is seeking to obtain storage permits and licenses for shipping and unloading at the Red Sea ports. The company has permits now to operate on the Mediterranean Sea ports only.