Egypt’s Enppi profits rise 19%, records $64mn

Big 5

The net profit of the Egyptian Engineering Company for the Petroleum and Process Industries- Enppi recorded around 570 million Egyptian pounds in 2015 (US$64.1 million), registering 19 percent growth.

Chairman and CEO Imam El-Said said Monday that the company has signed contracts to execute 17 strategic projects in oil, gas, and petrochemicals fields inside and outside Egypt during 2015 with investments worth US$350 million.

The inside-Egypt projects participated by 81 percent in company’s total revenues while the outside-Egypt ones participated by 19 percent, the chairman added during the meeting of company’s general assembly to approve business results of 2015.

El-Said clarified that Enppi won two new projects in Saudi Arabia for Saudi Aramco and Yanbu Aramco Sinopec Refining Company – YASREF.