Al-Fao General Engineering Company Outlines Roadmap To Maximize Revenues And Reduce Expenses For 2026
Engineer Ya'rub Qahtan Al-Awad, Director General and Chairman of the Board of Directors of Al-Fao General Engineering Company (a division of the Ministry of Construction, Housing, and Municipalities), chaired the third Board meeting of 2026 on Tuesday, March 31, 2026. Al-Awad opened the meeting by welcoming the members, followed by a review of the minutes of the previous meeting and the actions taken regarding them, before moving on to discuss the agenda, which focused on the following points:
First: Project Implementation Status
The meeting included a detailed review of the progress of the company's projects distributed between Baghdad and the provinces. The Board commended the success achieved during the current month, represented by the completion of two vital projects for the Ministry of Oil in the governorates of Basra and Salah al-Din, emphasizing the need for strict adherence to contractual timelines to ensure timely delivery.
Second: Rationalizing Spending And Maximizing Resources
In implementation of Cabinet Resolution No. (11) of 2026, the Board reviewed the report of the committee responsible for reducing expenditures. Mechanisms were approved to reduce the monthly operating expenses of the company headquarters and work sites, in line with government directives. The Board also discussed a number of steps to increase revenues, including:
• Activating Partnerships With The Private Sector: through leasing land and buildings, operating production plants, or establishing joint engineering projects that ensure sustainable annual profits.
• Asset Management: completing the procedures for writing off and selling used machinery and equipment.
• Financial Follow-Up: intensifying efforts to collect outstanding financial dues owed to the company by beneficiaries (employers).
Third: Field Monitoring And Administrative Evaluation
The Board reviewed the results of the field visits conducted by the Director General and senior staff to work sites, which aimed to address technical obstacles and overcome challenges immediately. The session concluded with a discussion of the performance reports of the Machinery and Production Department, in addition to the administrative, financial, supervisory and legal situation, with appropriate decisions being made to enhance the efficiency of institutional work.
