{"id":73178,"date":"2023-08-31T00:00:00","date_gmt":"2023-08-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/31\/ostool-unveils-expansion-plans\/"},"modified":"2023-08-31T00:00:00","modified_gmt":"2023-08-31T00:00:00","slug":"ostool-unveils-expansion-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/08\/31\/ostool-unveils-expansion-plans\/","title":{"rendered":"Ostool unveils expansion plans"},"content":{"rendered":"

Egypt-based trucking outfit and <\/strong>Raya Holding<\/a><\/strong> subsidiary <\/strong>Ostool<\/a><\/strong> has laid out <\/strong> plans that will see its road fleet doubled in size \u201cin the near future,\u201d <\/strong> according to a press release (pdf)<\/a>. The logistics services provider \u2014 which serves industries including mining, energy, cement, construction materials, and grains \u2014 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. <\/p>\n

Sustainability goals: <\/strong> Ostool aims to up the number of its natural gas-powered trucks, with the current vision seeing 25% of the company\u2019s 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. <\/p>\n

Growth plans in the offing: <\/strong> \u201cThe company aims to expand in the Gulf region,\u201d Badrawi mentioned without disclosing further details.<\/p>\n

Ostool has seen solid growth in its financials recently: <\/strong> The first half of 2023 saw the company haul in EGP 566 in revenues, compared to EGP 317 mn in the same period last year, thereby attaining 79% y-o-y growth, the company said. 1H 2023\u2019s bottomline came in at EGP 35 mn, almost triple the previous year\u2019s EGP 12 mn. Ostool\u2019s total revenues for last year came in at EGP 607 mn, with the year also seeing the firm control a 70% market share of coal to cement factory trips. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Egypt-based trucking outfit has its eyes on growing its footprint in the region<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[233],"tags":[17,578,232],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-73178","post","type-post","status-publish","format-standard","hentry","category-trucking","tag-enterprise-logistics","tag-ostool","tag-trucking","wpautop","entry"],"acf":{"mongo_id":"3d9283e1-2367-4899-b39a-49660a10a8de","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/1461.jpg,https:\/\/ostool-eg.com\/","photo_position":"above","homepage_title":"","full_issue_title":"Ostool unveils expansion plans","related_issue":[73172],"teaser":"The Egypt-based trucking outfit has its eyes on growing its footprint in the region","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.c9c5e8c8-5327-4a42-b370-e126ed6df398.mp3"},"yoast_head":"\nOstool unveils expansion plans - 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