Ostool unveils expansion plans

Egypt-based trucking outfit and Raya Holding subsidiary Ostool has laid out plans that will see its road fleet doubled in size “in the near future,” according to a press release (pdf). The logistics services provider — which serves industries including mining, energy, cement, construction materials, and grains — is holding negotiations to bolster its fleet with vehicles fitted with GPS and road monitoring systems, the release explained. Aside from road freight, the company also engages in the storage and unloading of shipping containers.

Sustainability goals: Ostool aims to up the number of its natural gas-powered trucks, with the current vision seeing 25% of the company’s fleet powered by natural gas by 2024, and a full transition to natural gas by 2026. Recent expansions have seen the firm establish itself as the largest operator of natural gas-powered trucks in Egypt, Ostool CEO Tamer Badrawi said in statements carried by the release.

Growth plans in the offing: “The company aims to expand in the Gulf region,” Badrawi mentioned without disclosing further details.