CAIRO: Public sector s holding companies and their affiliates achieved a net profit of LE 3 billion this year, Minister of Investment Mahmoud Mohieddin was reported to have said.

He added that those companies debts decreased to less than LE 10 billion compared to LE 31.5 billion during the past year.

Mohieddin indicated that in regard with affiliated companies – 164 companies – some 109 companies recorded profits while 55 companies made losses of LE 2.9 billion, the reports added.

The minister said that during his investment tour to Gulf countries he managed to sign contracts of LE 2.1 billion with construction companies.

Mohieddin also added those banks debts were finally paid, noting that these debts hit LE 9.2 billion.