Company Brief
The Arab company for Foundations (Vibro) subsidiary of the Holding Company for Construction and Development of the Ministry of Public Business Sector
The Arab company for Foundations (Vibro) is considered the biggest company in Egypt and the Middle East executing different types of deep foundations.
The company was established in Egypt by virtue of the royal decree on 18 March 1930 by establishing a company named "Pieu-Vibro Egypt" based on the Memorandum customary drawn up by the Shareholders in 25/6/1929 with a capital of 5000 L.E. distributed on 500 shares. This decree was published in "El Wakaee El Mesreya Newspaper" edition no.60 on Monday 26th Moharram 1349 I.C., 23rd of June 1930.
In 1947, the general assembly decided to increase the capital to be 10000 L.E. distributed on 1000 shares. Then the Presidential decree was issued by virtue of law 118 year 1961 to nationalize 50% of the capital and the company was named "Nile General Company for Mechanical Foundations- Vibro". By virtue of law 52 year 1964 the company was 100% nationalized.
The company and all its shares were owned by the country and its capital was increased to be 200000 L.E.. According to the Minister of Housing and Utilities decree no.322 year 1964 it was named "The General Company for Foundations". And then by the Presidential decree no. 259 year 1965, its name was modified to be "Arab company for foundations – Vibro". On 1967 by the Presidential decree no.908 it was affiliated to "The Egyptian General Organization for Contracting Civil Construction".
According to the clauses of Public sector companies law provisions by decree 97 year 1983, and the Presidential decree no.467 year 1983 to establish the General sector authority for construction, the company became affiliated to this authority.
In conformity with the Business Sector companies law by virtue of law 203 year 1991 and its executive regulations, the company became a joint stock company affiliated to the Holding Company for Construction And Development.
The Chairman of the Holding Company for Construction and Development decided to modify the third article of the company activities by adding:
- Real estate investments works according to decree no. 169 year 2000.
- Renting the company's equipment and machinery according to decree no. 98 year 2005.
- Bridges activity according to decree no. 293 year 2016.
- Roads activity according to decree no. 175 year 2019