Cairo: The Engineering for the Petroleum and 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.

According to State Information Service Egypt, nearly 88% of the company’s revenues in 2024 came from foreign projects compared to 59% in 2023. This increase reflects the foreign expansion strategy adopted by Enppi. The statement also mentioned that Minister of Petroleum and Mineral Wealth Karim Badawy attended the general assembly meeting of Enppi to discuss and approve the results of the 2024 operations.

During the meeting, Badawy instructed company officials to create a plan to expand its business outside Egypt, focusing on the Saudi market and capitalizing on opportunities in the energy and infrastructure sectors. He emphasized the need for Egyptian-Saudi strategic partnerships to enhance Enppi’s regional standing as a reliable engineering partner.

Badawy highlighted the success achieved by Enppi in Saudi Arabia and the UAE in recent years, suggesting it opens opportunities for further expansion and growth. He stressed the importance of extending the company’s training services and developing human resources in African countries to maximize the value of these services.

Meanwhile, Enppi Head Wael Lotfy noted that the company successfully navigated several challenges, including global political instability, price fluctuations, and energy supply issues. Lotfy stated that Enppi completed major projects both locally and internationally with high standards of quality and security, including 10 projects outside Egypt, particularly in Saudi Arabia, the UAE, and Jordan.