(MENAFN - Daily News Egypt) The Ministry of Military Production signed a contract with NI Capital to restructure the companies that have been incurring losses, according to minister Mohamed Al-Assar. He pointed out that throughout 2016, the ministry had increased its arms production by 225%, while achieving a growth in civilian production by up to 115%. Al-Assar said that the participating authorities and institutions trust the Ministry of Military Production's commitment to international standards and delivering projects on time. The Ministry of Military Production is cooperating with the Ministry of Transport in developing 295 level crossings in the framework of construction and electromechanical works. Al-Assar said that the main role of the Ministry of Military Production is supplying ammunition to the armed forces, as well as using its surplus production to implement service and community projects.

Source: Daily News Egypt January 11, 2017 06:52 UTC