Egypt Gas Company signed an $8.6 million contract with Al Rabiya in Kuwait, Amwal Al Ghad reports.
The contract represents the company’s plans to extend its operations outside of Egypt.
The contract will go into effect in January 2018 and will continue for 18 months. Egypt Gas expects to see its revenues increase by approximately EGP 10 million, according to Arab Finance.
In FY 2016/2017, the company’s revenues rose 5.8% to EGP 675 million. Despite the increase in revenues, Egypt Gas still registered a loss of EGP 52.393 million.