ADNOC Distribution has executed a final agreement to acquire 15 service stations in the Kingdom of Saudi Arabia.
According to the Emirates News Agency, this deal is worth 36.7 million dirhams and the acquisition is subject to certain conditions that include obtaining approval from the regulatory authorities.
This process is expected to generate more value for the company, resulting from increased fuel margins and an integrated approach to managing retail and non-fuel fuel products.
The new service stations are located in the eastern region, in areas serving both highways and residential neighborhoods alike.
The new stations will be refurbished in accordance with ADNOC Distribution's brand standards and will provide customers with high-quality retail refueling and services, including retail stores, which represent an investment opportunity Unique and proven that ensured the resounding success of the company in the UAE.
said Ahmed Al Shamsi, Acting CEO of ADNOC Distribution, “The expansion of our presence in the Kingdom of Saudi Arabia represents a milestone for our company and part of our strategy for profitable growth, as we look at this. Expansion as a natural development since we opened our first station there in 2018, and we look forward to significantly increasing our presence in the coming years. This is the first of many service stations that we intend to open, so that the Kingdom of Saudi Arabia will become a major strategic market for us, while making ADNOC service stations a destination for all in Saudi Arabia. ADNOC Distribution opened its first station in the Kingdom of Saudi Arabia in December 2018, on the Riyadh-Dammam highway, about 40 kilometers from the capital, and opened its second station in Al-Hofuf, Al-Ahsa Governorate, shortly after that. With the conclusion of this deal by ADNOC Distribution Company to acquire the stations, the total number of its stations in the Kingdom will reach 17 stations.
Al Shamsi added: The Kingdom of Saudi Arabia is the largest market in the Gulf Cooperation Council countries, and the Saudi market is rich in many opportunities suitable for many companies, especially those with great experience in The fuel sector is like our company, which will allow us to expand in the future, and we are currently discussing many opportunities that will allow us to expand our network in the Kingdom. This large and diversified market gives us the opportunity to benefit from that, and to provide services to residential and industrial areas in the Kingdom of Saudi Arabia. -
