Egypt: Petrojet implements 265 projects worth $1bln in 2024
Arab Finance: The Petroleum Projects and Technical Consultations Company (Petrojet) executed the construction of 265 projects in 2024, with a business volume exceeding EGP 80 billion, Chairman Waleed Lotfy announced.
Lotfy added that the company secured contracts for the implementation and construction of projects at a combined value of EGP 112 billion, 60% of which is outside Egypt, bringing the total volume of its work extending until 2028 to EGP 215 billion.
Petrojet generated net profits totaling EGP 14 billion in 2024, the chairman noted.
Moreover, Lotfy stated that the company will diversify its work by entering into the implementation of seawater desalination plant projects, green hydrogen and solar energy projects.
He also outlined plans to enter into new partnerships in Saudi Arabia, Libya, Jordan, the UAE, and Kuwait. It also targets several industrial projects in Iraq, the UAE, Saudi Arabia, Algeria, Oman, and Kuwait.
Petroject eyes new non-traditional foreign markets to operate in, such as Mozambique, Angola, Congo, Croatia, and others.
The remarks came during the company's general assembly meeting, which was attended by Minister of Petroleum and Mineral Resources Karim Badawi.
Badawi highlighted the company's role in the implementation of energy and infrastructure projects, both inside and outside Egypt, stressing the importance of expanding its activities in foreign markets.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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