ENOC and Aldrees sign joint venture to establish service stations in Saudi Arabia

posted on 29/08/2012: 973 views

Dubai/Riyadh: Emirates National Oil Company (ENOC), Dubai's leading petroleum retailer with a significant footprint in lifestyle and consumer retailing, has signed a joint venture agreement with Aldrees Petroleum '&' Transport Services Company (Aldrees), one of Saudi Arabia's largest petroleum retailers and commodity hauling companies, to set up service stations in different locations across the Kingdom.

Burhan Al Hashemi, Managing Director of ENOC Retail, the specialised retail business of ENOC, and Eng. Abdulelah Saad Aldrees, Chief Executive Officer of Aldrees, signed the agreement yesterday.

As per the 50:50 joint venture, the service stations will feature all the specialised and popular brands operated by ENOC including ZOOM, Pronto, Super Lube and Super Wash. 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.

With more than 70 million customer transactions annually, ENOC Retail, today, has over 4,000 employees who spearhead the retailing of fuel, petroleum products and an array of products and services, most of them targeted at the everyday requirements of motorists. The retail business also has many brands in the food '&' beverage sector, providing management services and franchising the brands across the Middle East and North Africa region.

One of the largest petroleum retail and commodity hauling companies in Saudi Arabia with a network of more than 450 petrol filling stations, Aldrees has a fleet of 1,032 tractor heads with 1,376 cargo carriers ranging from chemical/lubricant tankers, trailers, bulkers, to flat beds. The company serves a majority of the transport market and supply fuel to key accounts in both private and government sectors. – Emirates News Agency, WAM

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