Dubai fuel retailer Emirates National Oil Company (ENOC) has signed a joint venture with Saudi Arabias Aldrees Petroleum to open at least 40 new petrol stations in the kingdom
As per the 50:50 joint venture, the service stations will feature all brands operated by ENOC including ZOOM, Pronto, Super Lube and Super Wash. The first station under the partnership is expected to open in early 2013, followed by the progressive roll-out of the rest in due course.
Saeed Abdullah Khoory, chief executive officer of ENOC, said, “ENOC is focused on expanding its business presence regionally and internationally, and Saudi Arabia is a strategic market that offers perfect market synergies for our growth.
Abdulelah Saad Aldrees, chief executive officer of Aldrees, added, “We are confident that the joint venture will create a new history in petroleum retailing in the GCC region and offer enhanced services for the convenience of our customers.”
