Alexandria Petroleum Maintenance Company (Petromiant) has announced that its net profit increased by 24% for the first time during 2020, as it was able to sign contracts of EGP 4.4 billion, a press statement reported.

The announcement was made during the Petromaint  general assembly videoconference meeting, chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, to approve Petromiant operational results for  2020.

During the meeting, El Molla affirmed that it is important for the comprehensive maintenance companies to focus on the specified activities that suit their capabilities and potentials in order to achieve sustainability and diversity and to increase the added value.

The Minister also noted that Petromaint has many opportunities and capabilities that enable it to increase its capacities and to focus on several projects. He also praised the sector’s companies for their keenness to continue working while following the precautionary measures during the pandemic.

The meeting was attended by Nael Darwish, Chairman of Petromaint along with other senior officials.