Petrojet participates in 31 firms with investments worth $338mn in Egypt

Petroleum Projects and Technical Consultations Company – Petrojet participates in 31 firms with investments estimated at around three billion Egyptian pounds (US$337.8 million).

Speaking to Amwal Al Ghad Tuesday, Chairman of Petrojet Mohamed Shimy stated that the 31 firms are working in different sectors.

He added that the company adopts a plan and strategy to expand outside Egypt notably in a number of African states to seize more projects to execute.

Petrojet’s strategy for the upcoming years relies mainly on executing the policy and vision of Egyptian oil sector that aims at implementing large national developmental projects to hike state’s growth rates and achieve economic sustainable development, the official clarified.

He noted that the strategy also depends on capturing more oil and industrial projects, i.e. pipelines, storage warehouses, inclusive plants, and establishing maritime facilities. Additionally, the strategy relies on expanding in non-petroleum infrastructure projects, i.e. silos, buildings, roads and bridges, as well as ports and tunnels.

On other side, Petrojet designed a three-year strategy that started in 2015 and would end by 2017, chairman Shimy pointed out.

He noted that the company started executing this strategy through upgrading its assets, equipment, and production tools, increasing investments that maximise productivity, using new methods in implementing projects, training and qualifying human resources, in addition to revising firm’s administrative and financial regulations.