Egypt's renowned Modern Gas, in collaboration with the Ministry of Petroleum and Mineral Resources, is expanding its horizons with a groundbreaking venture in Saudi Arabia! Introducing Modern Gas Saudi Arabia - a $533K subsidiary set to revolutionize the energy sector in the Gulf.

With a robust backing of SAR2 million in seed capital, this new entity embodies a strategic partnership between Modern Gas, Fajr Egypt, Alexandria Petroleum Maintenance Co (Petromaint), and the Saudi Baseera Group. This venture not only marks a significant step in Modern Gas's international expansion but also highlights the company's successful track record, including a whopping $55.2 million in revenues for 2023 and services extending to 1.6 million customers across nine governorates in Egypt.

But that's not all! Egypt's economic landscape is on an upward trajectory, thanks to a comprehensive $8 billion agreement with the International Monetary Fund (IMF) and a massive $35 billion investment deal with the Emirati sovereign fund ADQ. These developments are crucial in attracting foreign currency inflows, boosting local businesses, and propelling significant projects aimed at enhancing Egypt's Mediterranean coastline.

This strategic expansion and economic fortification signal a bright future for Egypt's oil and gas sector, promising unparalleled opportunities for stakeholders and setting a new benchmark in the energy industry. Let's watch as Modern Gas Saudi Arabia paves the way for innovation and growth in the Gulf!

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