Egypt Gas turns to loss in Q1

Agreement with Town Gas to provide natural gas services to 120,000 householders in Cairo, Giza, Alexandria, Ismailia, and Port Said

  
ArabFinance: Egypt Gas (EGAS) incurred a net loss of EGP 37,760,561 in Quarter one (Q1) of 2020, against a net profit of EGP 8,926,750 achieved in Q1 2019, according to the company's June 15th financial statements filed to the Egyptian Exchange.

The company approved to seal an EGP 232.8 million agreement with Town Gas to provide natural gas services to 120,000 householders in Cairo, Giza, Alexandria, Ismailia, and Port Said.

Egypt Gas is an Egypt-based publication shareholding company engaged in the design, installation, operation, and maintenance of natural gas distribution networks and pressure reduction stations for domestics, commercial, and industrial applications.

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