The Arab Petroleum Pipelines Company (SUMED) successfully increased its paid-in capital by $400 million to reach $600 million through conscious strategic management, meticulous planning, and an investment vision.

This came during the regular general assembly, which was attended by Karim Badawi, Minister of Petroleum and Mineral Resources, and representatives of shareholders from Egypt and other Arab countries.

Badawi praised the financial results achieved by the company during 2024, emphasizing that “SUMED is one of the Arab investment models that we are proud of.”

SUMED’s Chairman and Managing Director, Mohamed Abdelhafez, indicated that the company was able to achieve a net profit of $192 million during the year, with a return on paid-in capital of 32.1%.

Abdelhafez further mentioned achieving 8 million safe operating hours as a result of implementing all elements of the occupational health and safety system and the company’s continuous dedication to providing a safe work environment free from causes of accidents and injuries.

The minister emphasized in this context that occupational safety, health, and environmental protection (HSE) are among the top priorities and have a significant impact on attracting investments.

Badawi further highlighted the importance of SUMED’s role in securing supplies and transforming Egypt into a regional and global hub for energy trading.

He added that the importance of SUMED lies not only in economic indicators and results but also in promoting and encouraging promising investments between Egypt and its Arab sister countries.