Cairo – Mubasher: TAQA Arabia plans to establish new stations with an investment cost of $30 million to boost solar energy production during the next three years, according to a bourse disclosure.
In line with its strategic objectives, the company aims to reduce carbon emissions. The EGX-listed firm will increase the conversion of cars operating on natural gas to reach 20,000 cars.
In the first half (H1) of 2024, the consolidated net profits after tax of TAQA Arabia increased by 26% year-on-year (YoY) to EGP 211.32 million from EGP 167.27 million.
Revenues hiked by 26% to EGP 7.79 billion in H1-24 from EGP 6.15 billion in H1-23, while the basic earnings per share (EPS) surged to EGP 0.15 from EGP 0.12.
