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EGAS aims to increase revenues to EGP 2bn next year - Daily News Egypt

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EGAS aims to increase revenues to EGP 2bn next year

The chairperson and managing director of the Egyptian Natural Gas Holding Company (EGAS), Yasser Salah El-Din, said that the company aims to increase its civil and mechanical works to EGP 250m and increase the company’s total revenues to EGP 2bn in 2018/2019. That is a targeted increase in annual business value estimated at EGP 300m. …


The chairperson and managing director of the Egyptian Natural Gas Holding Company (EGAS), Yasser Salah El-Din, said that the company aims to increase its civil and mechanical works to EGP 250m and increase the company’s total revenues to EGP 2bn in 2018/2019. That is a targeted increase in annual business value estimated at EGP 300m.

Salah El-Din told Daily News Egypt that the company is dealing with a gas linkage project and plans to connect natural gas to 320,000 clients this year, which is 120,000 clients more than last year across areas such as Qaliubiya, Menoufiya, Gharbeya, and Daqahleya, while other sister companies, like Town Gas, will connect gas to Alexandria, Cairo, and the Suez Canal region.

Also, he explained that the company contracted to deliver natural gas to the New Administrative Capital via an EGP 800m contract in 24 months. The company has completed 10% of the preparatory work, roads, and main feeding lines. Moreover, the company has carried out the anti-fire paint work for the Zohr gas field with further cooperation planned in the coming phase.

Salah El-Din pointed out that the company is undertaking all projects related to petroleum sector services, such as sanding, paints, fire protection, offshore protection, and land bases, implementing the airfields and administrative buildings, in addition to the work of natural gas stations throughout the republic.

He added that the company is carrying out a number of projects outside Egypt, including the construction of a 36-inch, 27 km gas pipeline in the north of Jordan with a timeframe of 18 months, as a new supply point for the Arab Gas Pipeline. The contract is valued at EGP 225m.

The company is also entering the Kuwaiti market through liquefied natural gas projects for some buildings and facilities, such as hotels and restaurants, and connecting several restaurants at Kuwait International Airport.

Topics: EGAS Gas

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https://dailyfeed.dailynewsegypt.com/2018/05/09/egas-aims-increase-revenues-egp-2bn-next-year/
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