Petrojet achieved a new record in revenues exceeding EGP 26.5 billion in 2018, with a 12% year-on-year growth, Egypt Oil & Gas reports.

The surge in revenues is attributed to the unprecedented volume of contracts that were signed last year, which totaled EGP 40 billion, according to the company’s Chairman and Managing Director Waleed Lotfy.

The company’s contracts in Egypt totaled EGP 25.5 billion, versus EGP 14.5 billion abroad.

Implementing an ambitious strategy that is based on the sector’s development plan and modernization program is the main drive of the company’s success, Lotfy added,

Lotfy also stressed that applying health, safety, and environmental standards helped the company become one of the best 250 construction firms in the world.

Petrojet chairman was speaking during the company’s general assembly meeting, which was chaired by the Minister of Petroleum, Tarek El Molla.

The minister stressed the role of the petroleum sector in the Egyptian economy, especially in capitalizing on the country’s natural resources and improving transformative industries through a number of projects.