The Engineering for the Petroleum & Process Industries (Enppi) achieved net profits amounting to LE2.7 billion after paying taxes, the Ministry of Petroleum and Mineral Wealth said in a statement on Thursday.
Nearly 88% of the company revenues in 2024 came from foreign projects in comparison to 59% in 2023, the statement said, adding that this reflects the foreign expansion strategy followed by the company.
Minister of Petroleum and Mineral Wealth Karim Badawy witnessed the general assembly meeting of Enppi to discuss and approve the results of the 2024 operations.
During the meeting, Badawy gave directives to officials of the company to draw up an ambitious plan to expand its business outside Egypt along with focusing on the Saudi market and benefiting from the major opportunities in the sectors of energy and infrastructure.
Badawy asserted the importance of strengthening co-operation via Egyptian-Saudi strategic partnerships to contribute to boosting the position of Enppi regionally as a trusted engineering partner.
Badawy said that the success achieved by Enppi in Saudi Arabia and the UAE in the recent years open the horizon for more expansion and growth to promote its role in implementing major projects in the sectors of petroleum, gas and infrastructure at the level of the Arab nation.
He asserted the importance of expanding the company’s training services and qualifying human cadres in African countries to achieve the highest added value of the training services presented by the company.
Meanwhile, Head of Enppi Wael Lotfy asserted that the company succeeded in facing several challenges including the global political turmoil, fluctuations of prices and hindrances facing providing energy.
Lotfy said that Enppi implemented major projects locally and internationally with the highest rates of quality and security including 10 projects outside Egypt especially in Saudi Arabia, the UAE and Jordan.
