Enoc to open 124 services stations in Saudi Arabia

Posted on 29th May 2019

Enoc to open 124 services stations in Saudi Arabia
Image courtesy of: https://gulfbusiness.com/wp-content/uploads/2018/09/ENOC-service-station.jpg

According to *Constructionweekonline news report, government of Dubai-owned Emirates National Oil Company (Enoc) will open 124 services stations in Saudi Arabia as part of its focus on the kingdom's Vision 2030 economic diversification mandate to meet increasing fuel demand in the kingdom, which had a population of almost 33 million in 2017, with the company stating that its growth would create 500 jobs in Saudi Arabia.

Enoc operates 14 service stations in Saudi Arabia, and plans to open 45 other facilities over the next five years. 

Another 65 stations will then be opened between 2024 and 2028, and Enoc said all facilities will feature solar photovoltaic (PV) panels on the roof of their canopies. 

Commenting on the expansion plan, chief executive officer of Enoc, HE Saif Humaid Al Falasi, said: “Our growth plans for the Saudi market come as part of the group’s retail expansion strategy aimed at not only boosting domestic economic sentiment, but also providing an impetus to our international growth plans.

“We strongly represent continued foreign investments into the kingdom that rose by 110% in 2018 to reflect the country’s diversification to non-oil industry trade between countries through goods and consumer products.”

The news comes months after Enoc revealed its five-year plan for its retail expansion in the kingdom, which included the launch of three service stations by end-2019 and another 10 end-2020.

*News source: https://www.constructionweekonline.com/projects-tenders/183060-enoc-to-open-124-service-stations-in-saudi-arabia-by-2030

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