Emirates National Oil Company has inked JV deal with Aldrees Petroleum & Transport Services, one of Saudi’s top petroleum retailers and commodity hauling companies to set up service stations across the Kingdom.
A leading petroleum retailer in Dubai, ENOC boasts of a significant footprint in lifestyle and consumer retailing. As per the 50:50 JV the service stations will feature all the specialized and popular brands operated by ENOC including Zoom, Pronto, Super Lube and Super Wash.
Mr Burhan Al Hashemi MD of ENOC Retail said after signing the deal with Mr Abdulelah Saad Aldrees CEO of Aldrees that the first station under the partnership is expected to open early next year followed by the progressive roll out of the rest in due course.
Mr Saeed Abdullah Khoory CEO of ENOC said that “ENOC is focused on expanding its business presence regionally and internationally and Saudi is a strategic market that offers perfect market synergies for our growth. Over the past years, we have established our competencies in retail operations through our service stations which offer convenient options not only to motorists but also to general consumers as well.”
Mr Khoory said that “The addition of several lifestyle brands as well as specialized automobile related retail services has further underlined our credentials in value added offerings. The new venture will help create jobs for young Saudis and Enoc will focus on strengthening their job competencies through its training programs thus serving as an effective partner in the Kingdom’s vision.
Mr Saad Aldrees said that with a network of more than 450 service stations in Saudi, Aldrees is an industry leader in petroleum retailing in the Kingdom. In line with our commitment to add value to our stakeholders, we are continuously exploring expansion opportunities that bring clear differentials to the market.
He said that “ENOC has a tremendous breadth of retailing experience that is a perfect fit for our core strengths. We are confident that the JV will create a new history in petroleum retailing in the GCC region and offer enhanced services for the convenience of our customers. The stations will also be of immense value to travellers, especially during the Hajj season.”
Source - Trade Arabia
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